Abco Inc has 500 common shares authorized, 350 issued and 100 treasury shares for all of...
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Abco Inc has 500 common shares authorized, 350 issued and 100 treasury shares for all of 2020 and 2021. There are no preferred shares or potentially dilutive securities. Abco sold 75 treasury shares on Jan 01, 2022. On October 01, 2023, Abco executed a 2 for 1 stock split. There were no other stock transactions. NOTE: Show supporting calculations or explanations below each table. 1. Based on information above and NI information below, find Basic EPS as reported in financial statements issued for 2022. Net income Wtd Avg Common Shares Outstanding Basic EPS Net income Wtd Avg Common Shares Outstanding Basic EPS 2022 $1,500 2. Based on information above and NI information below, find Basic EPS as reported in financial statements issued for 2023. 2021 2020 $800 $900 Numerator for BEPS Wtd Avg Common Shares Outstanding Basic EPS 2023 2022 2021 $1,800 $1,500 $800 3. Now assume that the company did have preferred stock outstanding for all years presented. The 5% preferred was issued on 1/1/2021, it is cumulative and non- participating with a $10,000 total par value. Dividends of $1,000 total were declared and paid in 2021; no dividends were declared for 2022 or 2023. Find and show below the Basic EPS as reported in the financial statements issued for 2023. 2023 2022 2021 Abco Inc has 500 common shares authorized, 350 issued and 100 treasury shares for all of 2020 and 2021. There are no preferred shares or potentially dilutive securities. Abco sold 75 treasury shares on Jan 01, 2022. On October 01, 2023, Abco executed a 2 for 1 stock split. There were no other stock transactions. NOTE: Show supporting calculations or explanations below each table. 1. Based on information above and NI information below, find Basic EPS as reported in financial statements issued for 2022. Net income Wtd Avg Common Shares Outstanding Basic EPS Net income Wtd Avg Common Shares Outstanding Basic EPS 2022 $1,500 2. Based on information above and NI information below, find Basic EPS as reported in financial statements issued for 2023. 2021 2020 $800 $900 Numerator for BEPS Wtd Avg Common Shares Outstanding Basic EPS 2023 2022 2021 $1,800 $1,500 $800 3. Now assume that the company did have preferred stock outstanding for all years presented. The 5% preferred was issued on 1/1/2021, it is cumulative and non- participating with a $10,000 total par value. Dividends of $1,000 total were declared and paid in 2021; no dividends were declared for 2022 or 2023. Find and show below the Basic EPS as reported in the financial statements issued for 2023. 2023 2022 2021
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Related Book For
Advanced Accounting
ISBN: 9780132568968
11th Edition
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
Posted Date:
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