Question: CALCULATOR MESSAGE HY INSTRUCTOR FULL SCREEN PRINTER On January 1, 2020, Shamrock Industries had stock outstanding as follows. 6% Cumulative preferred stock, $100 par value,

CALCULATOR MESSAGE HY INSTRUCTOR FULL SCREEN PRINTER On January 1, 2020, Shamrock Industries had stock outstanding as follows. 6% Cumulative preferred stock, $100 par value, issued and outstanding 9,800 shares $980,000 Common stock, $10 par value, issued and outstanding 206,000 shares 2,060,000 To acquire the net assets of three smaller companies, Shamrock authorized the issuance of an additional 158,400 common shares. The acquisitions took place as shown below. Date of Acquisition Shares Issued Company A April 1, 2020 48.000 Company B July 1, 2020 80,400 Company C October 1, 2020 30,000 On May 14, 2020, Shamrock realized a $88,800 (before taxes) Insurance gain on discontinued operations. On December 31, 2020, Shamrock recorded Income of $274,800 from continuing operations (after tax). Assuming a 25% tax rate, compute the earnings per share data that should appear on the financial statements of Shamrock Industries as of December 31, 2020. (Round answer to 2 decimal places, e.g. $2.55.) Shamrock Industries Income Statement For the Year Ended December 31, 2020 Income From Continuing Operations 274800 Discontinued Operations Gain, Net of Tax 88000 Net Income / (Loss) 264825

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

On January 1, 2020, Cheyenne Industries had stock outstanding as follows. 6% Cumulative preferred stock, $100 par value, issued and outstanding 9,300 shares $930,000 Common stock, $10 par value,...

Exercise 16-20 Your answer is partially correct. Try again. On January 1, 2020, Lennon Industries had stock outstanding as follows. 6% Cumulative preferred stock, $100 par value, issued and...

On January 1, 2017, Oriole Industries had stock outstanding as follows. 6% cumulative preferred stock, $100 par value, issued and outstanding 9,700 shares Common stock, $10 par value, issued and...

On January 1, 2017, Sweet Industries had stock outstanding as follows. 6% Cumulative preferred stock, $100 par value, issued and outstanding 9,600 shares $960,000 Common stock, $10 par value, issued...

On January 1, 2020, Crane Industries had stock outstanding as follows. 6% Cumulative preferred stock, $100 par value, issued and outstanding 9,200 shares Common stock, $10 par value, issued and...

On January 1, 2020, Blossom Industries had stock outstanding as follows. 6% Cumulative preferred stock, $100 par value, issued and outstanding 9,700 shares $970,000 Common stock, $10 par value,...

On January 1, 2020. Vaughn Industries had stock outstanding as follows. 6% Cumulative preferred stock. $ 100 par value, issued and outstanding 9.900 shares Common stock $ 10 par value issued and...

On January 1, 2020, Crane Industries had stock outstanding as follows. 6% Cumulative preferred stock, $100 par value, issued and outstanding 10,500 shares Common stock, $10 par value, issued and...

On January 1, 2020, Kingbird Industries had stock outstanding as follows. 6% Cumulative preferred stock. $100 par value, issued and outstanding 9,800 shares Common stock, $10 par value, issued and...

On January 1, 2020, Tamarisk Industries had stock outstanding as follows. 6% Cumulative preferred stock, $100 par value, issued and outstanding 9,100 shares $910,000 Common stock, $10 par value,...

A multiple-piston hydraulic jack has two output pistons, each with an area of 250 cm2. The input piston, whose area is 25 cm2, is connected to a lever that has a mechanical advantage of 9:1. If a...

What is a stock redemption? What are some reasons for redeeming stock? Why are some redemptions treated as sales and others as dividends?

Simplify each of the following, leaving your answer in index notation where appropriate. (a) 217 (b) (4) (+ (d) (457) 64% 64x7 21

McDonald's developed a vegetarian burger in India. This is an example of: Product Develiopment. Market Penetration. Market Diversification. Market Development. Global Marketing.

d. Prizes. Employees who achieve weekly sales goals established by management would be eligible for prizes such as sports or theater tickets, dinner at a nice restaurant, gift certificates, or...

1. This chapter reveals that a persons needs serve as motivators toward achieving challenging goals. Analyze what you believe drives persons like Phelps, Cox, and Armstrong to achieve these extremes.

1. Stephen M.R. Covey, author of The Speed of Trust, says that every employee in the organization should assume responsibility for building trust. Do you agree? Is this a realistic expectation?...