Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Below is an excerpt from the Consolidated Statement of Equity for Conglomerate Y for the scal year ended Year 10 (millions). Conglomerate Y and Subsidiaries
Below is an excerpt from the Consolidated Statement of Equity for Conglomerate Y for the scal year ended Year 10 (millions).
Conglomerate Y and Subsidiaries | ||
---|---|---|
Consolidated Statement of Equity | ||
Fiscal Year Ended December 27, Year 10 | Shares | Amount |
Preferred Stock | 0.8 | $41 |
Repurchased Preferred Stock | ||
Balance, beginning of year | (0.6) | (171) |
Redemptions | (0.1) | (10) |
Balance, end of year | (0.7) | $(181) |
Common Stock | ||
Balance, beginning of year | 1,529 | $25 |
Repurchased common stock | (66) | |
Balance, end of year | 1,463 | $25 |
Capital in Excess of Par Value | ||
Balance, beginning of year | $4,095 | |
Stock-based compensation expense | 297 | |
Stock option exercises, RSUs, PSUs and Yunits converted | (200) | |
Withholding tax on RSUs and PSUs converted | (91) | |
Other | 14 | |
Balance, end of year | $4,115 | |
Retained Earnings | ||
Balance, beginning of year | $46,420 | |
Net income attributable to Conglomerate Y | 6,513 | |
Cash dividends declaredcommon | (3,814) | |
Cash dividends declaredpreferred | (1) | |
Cash dividends declaredRSUs and PSUs | (26) | |
Balance, end of year | $49,092 |
Definitions: RSU: restricted stock units; PSU: performance stock units; Yunits: Conglomerate Y equity performance units.
a. Using this information, estimate basic earnings per share. Note: Round your answers to the nearest whole dollar.
The answer is not 6,484
b. Would we expect the company to report diluted earnings per shareStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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