At the end of 2020, the records of Block Corporation reflected the following. Common stock, $5 par,
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Question:
At the end of 2020, the records of Block Corporation reflected the following.
Common stock, $5 par, authorized 500,000 shares | ||
Outstanding January 1, 2020, 400,000 shares | $2,000,000 | |
Sold and issued April 1, 2020, 2,000 shares | 10,000 | |
Issued 5% stock dividend, September 30, 2020; 20,100 shares | 100,500 | |
Preferred stock, 6%, $10 par, nonconvertible, noncumulative, authorized 50,000 shares | ||
Outstanding during year, 20,000 shares | 200,000 | |
Paid-in capital in excess of par, common stock | 180,000 | |
Paid-in capital in excess of par, preferred stock | 100,000 | |
Retained earnings (after the effects of current preferred dividends declared during 2020) | 640,000 | |
Bonds payable, 6.5%, nonconvertible, issued at par January 1, 2020 | 1,000,000 | |
Net income | 164,000 | |
Income tax rate, 25% |
a. Compute the required EPS amount(s)
Net Income Available to Common Stockholders | Weighted Avg. Common Shares Outstanding | Per Share | |
---|---|---|---|
Basic EPS | Answer | Answer | Answer |
Net Income Available to Common Stockholders | Weighted Avg. Common Shares Outstanding | Per Share | |
---|---|---|---|
Diluted EPS | Answer | Answer | Answer |
Related Book For
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
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