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7B.

Barre Company had an income of $500,000 net of tax but before
extraordinary items in 2020. They had an extraordinary loss of $100,000
net of tax. They had 10,000 shares of convertible preferred $100 par stock,
6% dividend, with one year's dividend in arrears, convertible into
20,000 shares of common stock. Barre's weighted average shares for 2020
were 100,000 shares. The tax rate is 20%.
Prepare in good format earnings per share calculations for 2020 on all
necessary parts of income.

7D.

Montpelier Company has the following information at December 31, 2020.
Common Stock, 1,000,000 shares authorized, 400,000 shares issued, $2 par
Preferred Stock, 200,000 shares authorized, 100,000 shares issued, $10 par, 6% dividend
Common Stock Dividend Distributable, $250,000
Cash Dividend Payable, $200,000
Additional Paid in Capital Common, $2,000,000
Additional Paid in Capital, Preferred, $1,000,000
Retained Earnings, $5,000,000
Treasury Stock, 40,000 shares, at cost $300,000
Prepare in proper format the stockholder equity section of Montpelier for Dec 31, 2020.