Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need help on part (d) please my solutions are not correct? On January 1, 2026, Wildhorse Corp. had 461,000 shares of common stock outstanding. During

image text in transcribed

Need help on part (d) please my solutions are not correct?

image text in transcribed On January 1, 2026, Wildhorse Corp. had 461,000 shares of common stock outstanding. During 2026, 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, 2026. The weighted-average number of shares outstanding eTextbook and Media Attempts: 1 of 3 used (b) Your answer is correct. Assume that Wildhorse Corp. earned net income of $3,325,000 during 2026 . In addition, it had 104,000 shares of 10%,$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 2026. Compute earnings per share for 2026, using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, e.g. 2.55.) Earnings per share \$ company did not declare and pay a preferred dividend in 2026 . Compute earnings per share for 2026 , using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, e.g. 2.55.) Earnings per share Attempts: 1 of 3 used (c) Your answer is correct. Assume the same facts as in part (b), except that the preferred stock was cumulative. Compute earnings per share for 2026. (Round answer to 2 decimal places, e.g. 2.55.) Earnings per share eTextbook and Media Attempts: 1 of 3 used (d) Assume the same facts as in part (b), except that net income included a loss from discontinued operations of $440,000 (net of tax). Compute earnings per share for 2026. (Round answers to 2 decimal places, e.g. 2.55.) Earnings per share

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions

Question

How is Conversion Cycle related with other transaction cycles?

Answered: 1 week ago