Stanley Department Stores reported net income of $788,000 for the year ended December 31, 2024. Additional...

Transcribed Image Text:

Stanley Department Stores reported net income of $788,000 for the year ended December 31, 2024. Additional Information: Common shares outstanding at January 1, 2024 Incentive stock options (vested in 2023) outstanding throughout 2024 (Each option is exercisable for one common share at an exercise price of $23.50) 95,000 24,000 During the year, the market price of Stanley's common stock averaged $28.20 per share. On August 30, Stanley sold 15,000 common shares. Stanley's only debt consisted of $37,000 of 10% short-term bank notes. The company's income tax rate is 25%. Required: Compute Stanley's basic and diluted earnings per share for the year ended December 31, 2024. Note: Do not round intermediate calculations. Enter your answers in thousands (i.e., 10,000 should be entered as 10). Numerator Basic Diluted Denominator = Earnings per Share = = Stanley Department Stores reported net income of $788,000 for the year ended December 31, 2024. Additional Information: Common shares outstanding at January 1, 2024 Incentive stock options (vested in 2023) outstanding throughout 2024 (Each option is exercisable for one common share at an exercise price of $23.50) 95,000 24,000 During the year, the market price of Stanley's common stock averaged $28.20 per share. On August 30, Stanley sold 15,000 common shares. Stanley's only debt consisted of $37,000 of 10% short-term bank notes. The company's income tax rate is 25%. Required: Compute Stanley's basic and diluted earnings per share for the year ended December 31, 2024. Note: Do not round intermediate calculations. Enter your answers in thousands (i.e., 10,000 should be entered as 10). Numerator Basic Diluted Denominator = Earnings per Share = =

Answer rating: 100% (QA)

Lets compute Stanley Department Stores basic and diluted earnings per share EPS for the year ended D... View the full answer