At January 1, 2017, Culver Company’s outstanding shares included the following. 276,000 shares of $50 par...

At January 1, 2017, Culver Company’s outstanding shares included the following. 276,000 shares of $50 par value, 7% cumulative preferred stock 825,000 shares of $1 par value common stock Net income for 2017 was $2,479,000. No cash dividends were declared or paid during 2017. On February 15, 2018, however, all preferred dividends in arrears were paid, together with a 5% stock dividend on common shares. There were no dividends in arrears prior to 2017. On April 1, 2017, 481,000 shares of common stock were sold for $10 per share, and on October 1, 2017, 113,000 shares of common stock were purchased for $21 per share and held as treasury stock. Compute earnings per share for 2017. Assume that financial statements for 2017 were issued in March 2018. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $

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At January 1, 2017, Bonita Company’s outstanding shares included the following. 259,000 shares of $50 par...

At January 1, 2017, Bonita Company’s outstanding shares included the following. 259,000 shares of $50 par value, 7% cumulative preferred stock 974,000 shares of $1 par value common stock Net income for 2017 was $2,570,000. No cash dividends were declared or paid during 2017. On February 15, 2018, however, all preferred dividends in arrears were paid, together with a 5% stock dividend on common shares. There were no dividends in arrears prior to 2017. On April 1, 2017, 454,000 shares...

At January 1, 2017, Headland Company’s outstanding shares included the following. 293,000 shares of $50 par...

At January 1, 2017, Headland Company’s outstanding shares included the following. 293,000 shares of $50 par value, 7% cumulative preferred stock 955,000 shares of $1 par value common stock Net income for 2017 was $2,528,000. No cash dividends were declared or paid during 2017. On February 15, 2018, however, all preferred dividends in arrears were paid, together with a 5% stock dividend on common shares. There were no dividends in arrears prior to 2017. On April 1, 2017, 470,000 shares...

At January 1, 2020, Splish Company’s outstanding shares included the following. 259,000 shares of $50 par...

At January 1, 2020, Splish Company’s outstanding shares included the following. 259,000 shares of $50 par value, 7% cumulative preferred stock 974,000 shares of $1 par value common stock Net income for 2020 was $2,570,000. No cash dividends were declared or paid during 2020. On February 15, 2021, however, all preferred dividends in arrears were paid, together with a 5% stock dividend on common shares. There were no dividends in arrears prior to 2020. On April 1, 2020, 454,000 shares...

At January 1, 2020, Headland Company’s outstanding shares included the following. 295,000 shares of $50 par...

At January 1, 2020, Headland Company’s outstanding shares included the following. 295,000 shares of $50 par value, 7% cumulative preferred stock 854,000 shares of $1 par value common stock Net income for 2020 was $2,499,000. No cash dividends were declared or paid during 2020. On February 15, 2021, however, all preferred dividends in arrears were paid, together with a 5% stock dividend on common shares. There were no dividends in arrears prior to 2020. On April 1, 2020, 436,000 shares...

Culver, Inc. had the following equity investment portfolio at January 1, 2017. Evers Company 990 shares...

Culver, Inc. had the following equity investment portfolio at January 1, 2017. Evers Company 990 shares @ $14 each $13,860 Rogers Company 890 shares @ $19 each 16,910 Chance Company 480 shares @ $10 each 4,800 Equity investments @ cost 35,570 Fair value adjustment (7,590 ) Equity investments @ fair value $27,980 During 2017, the following transactions took place. 1. On March 1, Rogers Company paid a $2 per share dividend. 2. On April 30, Culver, Inc. sold 310 shares...

On January 1, 2017 Headland Industries had stock outstanding 9700 shares $970000 Common stock $10 par...

On January 1, 2017 Headland Industries had stock outstanding 9700 shares $970000 Common stock $10 par value, issued and outstanding 200000 shares 2000000 To acquire the net assets of three smaller companies, Headland authorized the issuance of an additional 157200 common shares. The aquisitions took place as shown below. Date of Aquisition. Shares Issued Company A April 1, 2017. 48000 Company B July 1, 2017. 78000 Company C October 1 2017. 31200 On May 14, 2017 Headland realized a $92400...

Windsor Corporation had 141,600 shares of stock outstanding on January 1, 2017. On May 1, 2017,...

Windsor Corporation had 141,600 shares of stock outstanding on January 1, 2017. On May 1, 2017, Windsor issued 48,000 shares. On July 1, Windsor purchased 9,600 treasury shares, which were reissued on October 1. Compute Windsor’s weighted-average number of shares outstanding for 2017.

On January 1, 2017, Ivanhoe Ltd. had 500,000 common shares outstanding. During 2017, it had the...

On January 1, 2017, Ivanhoe Ltd. had 500,000 common shares outstanding. During 2017, it had the following transactions that affected the common share account: Feb. 1 Issued 157,000 shares. Mar. 1 Issued a 19% stock dividend. May 1 Acquired 168,000 common shares and retired them. June 1 Issued a 2-for-1 stock split. Oct. 1 Issued 71,000 shares. The company’s year end is December 31. Determine the weighted average number of shares outstanding as at December 31, 2017. Assume that Ivanhoe...

1- Which of the following statements is NOT true? Basic shares outstanding are always included in...

1- Which of the following statements is NOT true? Basic shares outstanding are always included in fully diluted shares outstanding. Fully diluted shares outstanding include all potentially dilutive securities that have been issued. Fully diluted shares outstanding can not decrease unless shares are repurchased. Basic shares outstanding are always equal to or less than fully diluted shares outstanding 2- An analyst has built a forecast showing a rapidly rising Fixed Asset Turnover Ratio. What error has the analyst likely made?...

On January 1 , 2017, Newyork Capital Corporation purchased 30% of the outstanding common shares of...

On January 1 , 2017, Newyork Capital Corporation purchased 30% of the outstanding common shares of Delta Crating Corp. for $250 million and accounts for this investment under the equity method. The following information is available regarding Delta Crating Corp. ($ in millions) Net identifiable assets at 1/1/2017 acquisition: Fair Value 700 Book Value 500 2017 Net Income 100 2017 Dividends declared and paid 30 2018 net income 80 2018 dividends declared and paid 20 12/31/2017 fair value (based on...

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