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In: Accounting
On December 31, 2017, James Motor Company had 120,000 shares of common stock outstanding and 20,000...
On December 31, 2017, James Motor Company had 120,000 shares of common stock outstanding and 20,000 shares of 7%, $60 par, cumulative, convertible preferred stock outstanding. The 20,000 preferred shares are convertible into 90,000 shares of common stock. On February 28, 2018, James Motor Company purchased 12,000 shares of common stock on the open market as treasury stock paying $40 per share. James Motor Company sold 6,000 treasury shares on September 30, 2018, for $45 per share. Net income for 2018 was $300,400. Also outstanding during the year were fully vested incentive stock options giving key personnel the option to buy 50,000 common shares at $40. The market price of the common shares averaged $50 during 2019. Lastly, James Motor declared and paid a cash dividend to common shareholders of $27,000 during 2018.
Round all dollar values (numerator/denominator) up to the nearest whole dollar.
Round EPS to the nearest cent. For example, 1.24802 = 1.25 and 1.24498 = 1.24. Do not use dollar signs.
1. For basic EPS, the numerator in your calculation was?
2. For basic EPS, the denominator in your calculation was?
3. Basic EPS was?
4. For diluted EPS, the numerator in your calculation was?
5. For diluted EPS, the denominator in your calculation was?
6. Diluted EPS was?
Solutions
ekkarill92 answered 2 years agoRelated Solutions
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