At December 31,2008,Munter Corporation had 50,000 shares of common stock issued and outstanding, 30,000 of which had
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On April 1, 2009, there were 30,000 additional shares issued. Total income before income taxes for 2009 was $527,000, which included an extraordinary gain before income taxes of $37,000. Assuming a 30% tax rate, what is Munter’s basic earnings per common share for 2008 and for 2009, rounded to the nearest cent? Show computations in good form.
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Intermediate Accounting
ISBN: 978-0324312140
16th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
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