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can someone help me with the Earnings per share ? Problem 11-2A (Part Level Submission) The stockholders' equity accounts of Pronghorn Corp. on January 1,
can someone help me with the Earnings per share ?
Problem 11-2A (Part Level Submission) The stockholders' equity accounts of Pronghorn Corp. on January 1, 2017, were as follows. Preferred Stock (6%, $100 par noncumulative, 5,000 shares authorized) $300,000 Common Stock ($4 stated value, 300,000 shares authorized) 1,000,000 Paid-in Capital in Excess of Par Value-Preferred Stock 15,000 Paid-in Capital in Excess of Stated Value-Common Stock 480,000 Retained Earnings 686,000 Treasury Stock (5,000 common shares) 40,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Issued 5,000 shares of common stock for $30,000 Feb. 1 Purchased 1,000 additional shares of common treasury stock at $9 per share. Mar. 20 Oct Nov Declared a 6% cash dividend on preferred stock, payable November 1 1 1 Paid the dividend declared on October 1. Dec Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017. 1 Determined that net income for the year was $275,600. Paid the dividend declared on December 1 Dec. 31 (a) PRONGHORN CORP. Partial Balance Sheet December 31, 2017 Stockholders' Equity Paid-in Capital Capital Stock 300,000 Preferred Stock $ 1020000 Common Stock 1320000 Total Capital Stock Additional Paid-in Capital 15,000 Paid-in Capital in Excess of Par Value-Preferred St 490000 Paid-in Capital in Excess of Stated Value-Commor 505000 Total Additional Paid-in Capital 1825000 Total Paid-in Capital 819100 Retained Earnings 2644100 Total Paid-in Capital and Retained Earnings Less 49,000 Treasury Stock 2595100 Total Stockholders' Equity (d) Your answer is partially correct. Try again Calculate the payout ratio, earnings per share, and return on common stockholders' equity. (Round earning per share to 2 decimal places, e.g. $2.66 and all other answers to 1 decimal place. 17.5%.) Payout ratio 45,2 % Earnings per share 1.0 Return on common stockholders' equity 12.1 % Open Show Work Click if you would like to Show Work for thisStep by Step Solution
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