60.1K

Verified Solution

Link Copied!

On January 1, 2020, Cullumber Ltd. had 672,000 common shares outstanding. During 2020, it had the following transactions that affected the common share account:

Feb. 1		Issued 193,000 shares.
Mar. 1		Issued a 12% stock dividend.
May 1		Acquired 219,000 common shares and retired them.
June 1		Issued a 3-for-1 stock split.
Oct. 1		Issued 43,000 shares.

The companys year end is December 31.

Determine the weighted average number of shares outstanding as at December 31, 2020. (Round answer to 0 decimal places, e.g. 5,275.)

Weighted average number of shares outstanding

enter the Weighted average number of shares outstanding rounded to 0 decimal places shares

eTextbook and Media

Assume that Cullumber earned net income of $ 3,467,000 during 2020. In addition, it had 110,000 of 10%, $ 100 par, non-convertible, noncumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2020. Calculate earnings per share for 2020, using the weighted average number of shares determined above. (Round answer to 2 decimal places, e.g. 15.25.)

Earnings per share

$ enter Earnings per share in dollars rounded to 2 decimal places

eTextbook and Media

Assume that Cullumber earned net income of $ 3,467,000 during 2020. In addition, it had 110,000 of 10%, $ 100 par, non-convertible, cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2020. Calculate earnings per share for 2020, using the weighted average number of shares determined above. (Round answer to 2 decimal places, e.g. 15.25.)

Earnings per share

$ enter Earnings per share in dollars rounded to 2 decimal places

eTextbook and Media

Assume that Cullumber earned net income of $ 3,467,000 during 2020. In addition, it had 110,000 of 10%, $ 100 par, non-convertible, noncumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2020. Assume that net income included a loss from discontinued operations of $ 424,000, net of applicable income taxes. Calculate earnings per share for 2020. (Round answers to 2 decimal places, e.g. 15.25.)

		Earnings per share
Income from continuing operations		$ enter a dollar amount rounded to 2 decimal places
Loss from discontinued operations		$ enter a dollar amount rounded to 2 decimal places
Net income		$ enter a total amount rounded to 2 decimal places

Answer & Explanation Solved by verified expert

See Answer