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Exercise 16-16 (Part Level Submission) On January 1, 2015, Wilke Corp. had 483,000 shares of common...

Exercise 16-16 (Part Level Submission) On January 1, 2015, Wilke Corp. had 483,000 shares of common stock outstanding. During 2015, it had the following transactions that affected the Common Stock account. February 1 Issued 133,000 shares March 1 Issued a 10% stock dividend May 1 Acquired 118,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 65,000 shares of treasury stock (a) Your answer is correct. Determine the weighted-average number of shares outstanding as of December 31, 2015. The weighted-average number of shares outstanding Show Solution Show Answer Link to Text Attempts: 1 of 3 used (b) Your answer is correct. Assume that Wilke Corp. earned net income of $3,269,000 during 2015. In addition, it had 109,000 shares of 9%, $100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2015. Compute earnings per share for 2015, using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, e.g. $2.55.) Earnings Per Share $ Show Solution Show Answer Link to Text Attempts: 1 of 3 used (c) Assume the same facts as in part (b), except that the preferred stock was cumulative. Compute earnings per share for 2015. (Round answer to 2 decimal places, e.g. $2.55.) Earnings Per Share $

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ekkarill92 answered 1 year ago
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