Question
Hello, I need some help with an accounting problem. Wildhorse Corporation had 118,000 common shares outstanding on December 31, 2019. During 2020, the company issued
Hello, I need some help with an accounting problem.
Wildhorse Corporation had 118,000 common shares outstanding on December 31, 2019. During 2020, the company issued 14,000 shares on March 1, retired 6,500 shares on July 1, issued a 20% stock dividend on October 1, and issued 21,300 shares on December 1. For 2020, the company reported net income of $472,000 after a loss from discontinued operations of $67,600 (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.)
Income per share before discontinued operations Discontinued operations loss per share, net of tax Net income per share |
Thank you
Step 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