(EPS: Simple Capital Structure) Kendall Inc. presented the following data. Net income $2,200,000 Preferred stock: 50,000 shares...
Question:
(EPS: Simple Capital Structure) Kendall Inc. presented the following data.
Net income $2,200,000
Preferred stock: 50,000 shares outstanding,
$100 par, 8% cumulative, not convertible 5,000,000
Common stock: Shares outstanding 1/1 600,000
Issued for cash, 5/1 300,000
Acquired treasury stock for cash, 8/1 150,000
2-for-1 stock split, 10/1
Compute earnings per share.
Step by Step Answer:
Event Beginning balance Issued shares Reacquired shares Weightedaverage Dates Outstanding S...View the full answer
Intermediate Accounting
ISBN: 978-0470423684
13th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
Related Video
Stocks (also known as equities) are securities that represent ownership in a company. They are issued by companies to raise capital, and when an individual buys stocks, they become a shareholder in that company. Investing in stocks can be a way for individuals to potentially earn a return on their investment through dividends and capital appreciation. However, investing in stocks also carries a level of risk, as the value of the stock can fluctuate based on various factors such as the financial performance of the company and general market conditions. For companies, issuing stocks can be a way to raise funds for growth and expansion. When a company goes public by issuing an initial public offering (IPO), it can raise significant capital by selling ownership stakes to the public. Companies can also issue additional stock offerings to raise additional capital as needed.
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