Question
1. On January 1, 2020, Blossom Ltd. had 498,000 common shares outstanding. During 2020, it had the following transactions that affected the common share account:
1. On January 1, 2020, Blossom Ltd. had 498,000 common shares outstanding. During 2020, it had the following transactions that affected the common share account:
Feb. 1 | Issued 150,000 shares. | |
Mar. 1 | Issued a 10% stock dividend. | |
May 1 | Acquired 162,000 common shares and retired them. | |
June 1 | Issued a 2-for-1 stock split. | |
Oct. 1 | Issued 40,000 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 |
Assume that Blossom earned net income of $3,000,000 during 2020. In addition, it had 80,000 of 7%, $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 |
Assume that Blossom earned net income of $3,000,000 during 2020. In addition, it had 80,000 of 7%, $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 $400,000, 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 |
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