Answered step by step
Verified Expert Solution
Question
1 Approved Answer
At December 31,2024, Blossom Company had 290000 shares of common stock and 9000 shares of 5%,$100 par value cumulative preferred stock outstanding. No dividends were
At December 31,2024, Blossom Company had 290000 shares of common stock and 9000 shares of 5%,$100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2024 or 2025 . On January 30. 2026 , before the issuance of its financial statements for the year ended December 31,2025, Blossom declared a 100\% stock dividend on its common stock. Net income for 2025 was $1130000. In its 2025 financial statements, Blossom will report 2025 earnings per share of 53.90. $3.53. $1.87. $1.94
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started