Stanley Department Stores reported net income of $720,000 for the year ended December 31, 2024. Additional Information:
Question:
Stanley Department Stores reported net income of $720,000 for the year ended December 31, 2024. Additional Information:
Required:
Compute Stanley’s basic and diluted earnings per share for the year ended December 31, 2024.
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Common shares outstanding at Jan. 1, 2024 Incentive stock options (vested in 2023) outstanding throughout 2024 (Each option is exercisable for one common share at an exercise price of $37.50.) During the year, the market price of Stanley's common stock averaged $45 per share. On Aug. 30, Stanley sold 15,000 common shares. Stanley's only debt consisted of $50,000 of 10% short-term bank notes. The company's income tax rate is 25%. 80,000 24,000
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Purchase of treasury shares 24000 shares x 3750 exercise price 900000 45 average m...View the full answer
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