Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Help with Part B On January 1, 2021, Tamarisk Corp. had 502,000 shares of common stock outstanding. During 2021, it had the following transactions that

Help with Part B

image text in transcribed

image text in transcribed

On January 1, 2021, Tamarisk Corp. had 502,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. (a) Your answer is correct. Determine the weighted-average number of shares outstanding as of December 31, 2021. The weighted-average number of shares outstanding eTextbook and Media Attempts: 1 of 2 used Using multiple attempts will impact your score. 20% score reduction after attempt 1 (b) Assume that Tamarisk Corp. earned net income of $3,550,000 during 2021. In addition, it had 102,000 shares of 9%,$100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2021 . Compute earnings per share for 2021, using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, e.g. $2.55.) Assume that Tamarisk Corp. earned net income of $3,550,000 during 2021. In addition, it had 102,000 shares of 9%,$100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2021. Compute earnings per share for 2021, using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, e.g. $2.55.) Earnings Per Share $ eTextbook and Media Attempts: 0 of 2 used Using multiple attempts will impact your score. 20% score reduction after attempt 1 (c) The parts of this question must be completed in order. This part will be available when you complete the part above. (d) The parts of this question must be completed in order. This part will be available when you complete the part above

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

Auditory Cognition And Human Performance: Research And Applications

Authors: Carryl L. Baldwin

1st Edition

0415325943, 978-0415325943

More Books

Students also viewed these Accounting questions