At January 1, 2020, Krispy Corp. had 3,000,000 shares of common stock and 100,000 shares...
80.2K
Verified Solution
Link Copied!
Question
Accounting
At January 1, 2020, Krispy Corp. had 3,000,000 shares of common stock and 100,000 shares of 4%, $50 par value cumulative preferred stock outstanding. Krispy did not declare or pay any dividends on either the common or preferred stock during 2020. On January 16, 2021, prior to the issuance of its financial statements for the year ended December 31, 2020, Krispy declared a 100% stock dividend on its common stock. Net income for 2020 was $9,400,000. In its 2020 financial statements, Krispy's 2020 basic earnings per share is...?
Have answer as 3.07 but want to be 100% sure as one person agrees and one person disagrees. What is the answer? Thank you!
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
