Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Exercise 19-20 (Algo) EPS; shares issued; stock options (LO19-6, 19-7, 19-8, 19-9) Stanley Department Stores reported net income of $900,000 for the year ended December

image text in transcribed
Exercise 19-20 (Algo) EPS; shares issued; stock options (LO19-6, 19-7, 19-8, 19-9) Stanley Department Stores reported net income of $900,000 for the year ended December 31, 2021, Additional Information: 130,000 36.000 Common shares outstanding at Jan. 1, 2021 Incentive stock options (vested in 2020) outstanding throughout 2021 (Each option is exercisable for one common share at an exercise price of $27.00) During the year, the market price of Stanley's common stock averaged $32.40 per share. On Aug. 30, Stanley sold 15,000 common shares. Stanley's only debt consisted of $44,000 ot 108 short-term bank notes. The company's income tax rate is 251. Required: Compute Stanley's basic and diluted earnings per share for the year ended December 31, 2021. (Enter your answers in thousands. Do not round intermediate calculations) Numerator 1 Denominator Earnings per Share 1 Basic Diluted

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

Step: 3

blur-text-image

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

Cost And Management Accounting

Authors: Duncan Williamson

1st Edition

0132059231, 978-0132059237

More Books

Students also viewed these Accounting questions

Question

How do you think this problem should be treated?

Answered: 1 week ago