Question: Computing Shares Used in EPS Calculation: Stock Options Mann Inc., had 960,000 shares of common stock issued and outstanding at December 31, 2019. On July

Computing Shares Used in EPS Calculation: Stock Options

Mann Inc., had 960,000 shares of common stock issued and outstanding at December 31, 2019. On July 1, 2020, an additional 160,000 shares of common stock were issued for cash. Mann also had unexercised stock options to purchase 128,000 shares of common stock at $15 per share outstanding at the beginning and end of 2020. The average market price of Manns common stock was $20 during 2020. What is the number of shares that should be used in computing diluted earnings per share for the year ended December 31, 2020?

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!

Qe5 Not yet awered Marked out of 1,00 P Plog cuestion Computing Shares Used in EPS Calculation: Stock Options Mann Inc., had 960,000 shares of common stock issued and outstanding at December 31,...

Brief Exercise 21-41 Computing Shares Used in EPS Calculation: Stock Options LO7 Hint: See Demo 21-7A Mann Inc., had 300,000 shares of common stock issued and outstanding at December 31, 2019. On...

II. Income Statement What is the trend from the last two years of each of the following: Sales, Cost of Goods Sold, Expenses, and Net Income? You should calculate dollar and percentage change in each...

I have attached the balance sheet, Income Statement and Cash flow below please find a). Market Share Ratio Balance Sheet Income Statement Cash Flow Tesla, Inc. Consolidated Balance Sheets (in...

d e come to At December 31, 2016 and 2017 Mare 52.08 $1.75 1.53 with the cores of common stock outstanding on January 1 and December 31, 2017 $1.42 on January Marsh Co had 2.400.000 shares of comm...

Use 20 or 21 Tax Forms Line 11 2,792.6 Line 20 1,190.0 Line 28 29,970 Line 31 6,000 Prepare 1065 Page 1 and 4 only. Use 2020 or 2021 Form. Line 8 2,472,230. Line 16a and c 852,813. Line 21 2,226,558...

Need 2020 Form 1065 Express Catering, Inc. (EC) is organized in the state of New York as a corporation and is taxed as a "C" corporation with a calendar year-end. EC operates a delicatessen/bakery in...

ONLY NEED FORM 1065 PAGES 1 AND 4 Instructions: Please complete Express Catering, Inc.'s 2020 Form 1120, U.S. Corporation Income Tax Return, based upon the information provided below. If required...

Refer to the notes to the financial statements. The first note, "Summary of Significant Ac- counting Policies," provides information about the company's depreciation and amortization methods. You...

Complete a Horizontal Analysis of Teslas Inc. Consolidated Balance Sheet and Consolidated Statement of Operations. Use 2019 as the Analysis Period and 2018 as the Base Period. Use Word or Excel to...

A mass flow rate into a control volume requires a normal velocity component. Why?

An Air pomp has a cylinder 0.250 m long with a movable piston. The pump is used to compress air from the atmosphere (at absolute pressure 1.01 X 103 Pa) into a very large tank at 4.20 X 105 Pa gauge...

11. Identify the components of pension expense. Briefly explain the nature of each component.

During the critical period leading up to a secret ballot election, employers may do each of the following EXCEPT: Group of answer choices Tell employees about the implications of signing a union...

What are the specific objectives (awareness, acceptance and action for each public)?

How does this benefit differ from the benefits available from other organizations?

What lifestyle traits does your key public have?