Huron Resources is a public oil field services company. Selected information follows: Required: 1. Calculate basic EPS
Question:
Huron Resources is a public oil field services company. Selected information follows:
Required:
1. Calculate basic EPS for 20X4 and 20X3.
2. Interpret the trend in basic EPS.
3. Repeat requirement 1, assuming that the shares issued in 20X4 were issued as a result of a stock dividend.
Transcribed Image Text:
Bonds payable, 7%, due 20X16 Preferred shares, $3 dividend, noncumulative, 100,000 shares outstanding Preferred shares, $2 dividend, cumulative, 50,000 shares outstanding. Redemption price $20 per share plus dividends in arrears, if any Common shares, 900,000 shares outstanding at the end of 20X4 after 300,000 shares were issued for cash on 31 October 20X4; no share transactions in 20X3 Dividends declared during the year Net earnings and comprehensive income 20X4 $ 6,000,000 $ 1,600,000 $ 2,100,000 $16,200,000 $ 540,000 $ 700,000 20X3 $ 6,000,000 $ 1,600,000 $ 2,100,000 $10,700,000 0 $ 400,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (5 reviews)
Requirement 1 Requirement 2 The company has much higher profit in 20X4 than in 20X3 but basic EPS ha...View the full answer
Answered By
Anthony Ngatia
I have three academic degrees i.e bachelors degree in Education(English & Literature),bachelors degree in business administration(entrepreneurship option),and masters degree in business administration(strategic management) in addition to a diploma in business management.I have spent much of my life in the academia where I have taught at high school,middle level colleges level and at university level.I have been an active academic essays writer since 2011 where I have worked with some of the most reputable essay companies based in Europe and in the US.I have over the years perfected my academic writing skills as a result of tackling numerous different assignments.I do not plagiarize and I maintain competitive quality in all the assignments that I handle.I am driven by strong work ethics and a firm conviction that I should "Do Unto others as I would Like them to do to me".
4.80+
76+ Reviews
152+ Question Solved
Related Book For
Intermediate Accounting Volume 2
ISBN: 9781260881240
8th Edition
Authors: Thomas H. Beechy, Joan E. Conrod, Elizabeth Farrell, Ingrid McLeod-Dick, Kayla Tomulka, Romi-Lee Sevel
Question Posted:
Students also viewed these Business questions
-
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
-
If LA and / B COSA = C-SB + are then acute angles such that Show that LA = LB
-
For each of the following events, identify the determinants of supply that are most relevant and very briefly explain how/why it is relevant to the event. 1. Tensions in the Middle East raises the...
-
What are the advantages and disadvantages of Qantass international cooperative alliances? The Qantas Group maintained its strong position in the Australian domestic market in 2016/17. Through a dual...
-
After 1964, quarters were manufactured so that the weights had a mean of 5.67 g and a standard deviation of 0.06 g. Some vending machines are designed so that you can adjust the weights of quarters...
-
In fuel cell stacks, it is desirable to operate under conditions that promote uniform surface temperatures for the electrolytic membranes. This is especially true in high temperature fuel cells where...
-
Art pervades almost every aspect of human social life. Give examples of art in the ways people make a living, in religion, in social structure, and in family life.
-
Develop a chase aggregate plan for Draper using a permanent workforce of 12 employees supplemented by overtime. All demand must be met each period. (a) Show what would happen if this plan were...
-
Consider the two pucks shown in the figure. As they move towards each other, the momentum of each puck is equal in magnitude and opposite in direction. Given that Vi, green = 11.0 m/s, and m blue is...
-
Targeted Ltd. (TL) reports the following calculations for basic EPS, for the year ended 31 December 20X4: Assume two different scenarios for Targeted Ltd.Case A versus Case B as shown below: Case A...
-
Gannon Ltd. reported earnings as follows: The capital structure of Gannon included the following: Required: 1. Calculate 20X2 basic EPS, including the comparative 20X1 calculation. 2. Interpret the...
-
The following is intended to explore what kinds of income-demand relationships are logically possible. A: For each of the following, indicate whether the relationship is possible or not and explain:...
-
At one instant, a 2.0 kg particle has position vector =(4.0+6.0) m and acceleration vector =(5.02.0) m/s2 . Just then, what is the torque (Nm) on the particle?
-
1. Suppose you use a baud rate of 38400. How far off can the clock rate of your 2 devices be before you start reading data incorrectly? Do not use the 5% approximation, but rather compute the answer...
-
Write sequence of constructor calling indicating the type of constructor when lg1 is created in main(). In above scenario base Animal's default constructor is called although Animal(x) is specified...
-
1. Suppose that we have a stack of characters, denoted by S, and a queue of characters, denoted by Q. We also assume that we execute the following code for each data structure separately:...
-
5. Let D be a 4 x 4 matrix of the following form: a11 a12 b11 b12 a21 a22 b21 b22 D = 0 0 C11 C12 0 0 C21 C22 That is D is "built up" of the four 2 2 matrices consisting of the together with a 2 x 2...
-
Compile data on consumption and expenditures for the following categories in 30 different countries: (1) food and beverages, (2) clothing and footwear, (3) housing and home operations, (4) household...
-
How many years will it take a $700 balance to grow into $900 in an account earning 5%?
-
Lamanna Laundry Ltd. is a full-service laundry provider, focusing on high-end clientele. Lamanna Laundry has recently invested in new technology to improve efficiency. To finance the new technology,...
-
Access the financial statements of Air Canada for the year ended December 31, 2020, through SEDAR (www.sedar.com) or the companys website. Review the financial statements, including the notes, and...
-
Access the financial statements for Loblaw Companies Limited for the year ended January 2, 2021, and for Empire Company Limited for the year ended May 2, 2020, through SEDAR (www.sedar.com) and then...
-
How does the use of message queues in IPC enhance communication in distributed systems, and what are the implications for latency and scalability ?
-
1. Solve the initial value problems: a) y+p(x)y=2x, y(0) = 3 where: p(x) = {-1/ if 0 x 1 -1/2 if x > 1. da xy b) subject to y(-1)=1 dy x+2y2
-
create a sequence diagram of signup action of socialnetwork form, i created the following one but my teachersays "You have provided system sequencediagrams instead of sequence diagrams.First identify...
Study smarter with the SolutionInn App