Answered step by step
Verified Expert Solution
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
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 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 shareStep 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