Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Crane Corporation had 98,000 common shares outstanding on December 31, 2019. During 2020, the company issued 12,000 shares on March 1, retired 7,600 shares on

Crane Corporation had 98,000 common shares outstanding on December 31, 2019. During 2020, the company issued 12,000 shares on March 1, retired 7,600 shares on July 1, issued a 20% stock dividend on October 1, and issued 17,700 shares on December 1. For 2020, the company reported net income of $392,000 after a loss from discontinued operations of $54,400 (net of tax). The company issued a 2-for-1 stock split on February 1, 2021, and the companys financial statements for the year ended December 31, 2020, were issued on February 28, 2021. Calculate earnings per share for 2020 as it should be reported to shareholders. (Round answer to 2 decimal places, e.g. 15.75.)

Earnings per share

Income per share before discontinued operations

$enter a dollar amount

Discontinued operations loss per share, net of tax

$enter a dollar amount

Net income per share

$enter a total net income per share amount

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

IFRS edition volume 2

978-0470613474, 470613475, 978-0470616314

More Books

Students also viewed these Accounting questions

Question

=+ f. What share of output does labor receive now?

Answered: 1 week ago

Question

Write the properties of Group theory.

Answered: 1 week ago

Question

How is slaked lime powder prepared ?

Answered: 1 week ago

Question

Why does electric current flow through acid?

Answered: 1 week ago

Question

What is Taxonomy ?

Answered: 1 week ago