On January $1,2021,$ Swifty Corp. had $459,000$ shares of common stock outstanding. During $2021,$ it had the following transactions

that affected the Common Stock account.

February $1$ Issued $123,000$ shares

March $1$ Issued a $10\%$ stock dividend

May $1$ Acquired $101,000$ shares of treasury stock

June $1,$ Issued a $3-$for$-1$ stock split

October $1$ Reissued $57,000$ shares of treasury stock

Determine the weighted$-$average number of shares outstanding as of December $31,2021.$

The weighted$-$average number of shares outstanding

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Question Part Score

Assume that Swifty Corp. earned net income of $$3,577,000$ during $2021.$ In addition, it had $95,000$ shares of $9\%,$$$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\mathrm{.}55.)$

Earnings Per Share $Assume the same facts as in part $($b$),$ except that the preferred stock was cumulative. Compute earnings per share for

$($Round answer to $2$ decimal places, e$.$g$.$ $$2\mathrm{.}55.)$

Earnings Per Share $

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Question Part Score

Assume the same facts as in part $($b$),$ except that net income included a loss from discontinued operations of $$413,000($net of tax$).$

Compute earnings per share for $2021.($Round answer to $2$ decimal places, e$.$g$.$ $$2\mathrm{.}55.)$

Swifty Corp.

Income Statement

For the Year Ended December $31,2021$

Income From Continuing Operations

$

Loss From Discontinued Operations

Net Income $/($Loss$)$

On January $1,2021,$ Swifty Corp. had $459,000$ shares of common stock outstanding. During $2021,$ it had the following

transactions that affected the Common Stock account.

February $1$ Issued $123,000$ shares

March $1$ Issued a $10\%$ stock dividend

May $1$ Acquired $101,000$ shares of treasury stock

June $1,$ Issued a $3-$for$-1$ stock split

October $1$ Reissued $57,000$ shares of treasury stock

Determine the weighted$-$average number of shares outstanding as of December $31,2021.$

The weighted$-$average number of shares outstanding

eTextbook and Media

Question Part Score

Assume that Swifty Corp. earned net income of $$3,577,000$ during $2021.$ In addition, it had $95,000$ 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\mathrm{.}55.)$

Earnings Per Share $

eTextbook and Media

Question Part Score

Assume the same facts as in part $($b$),$ except that the preferred stock was cumulative. Compute earnings per share

for $2021.($Round answer to $2$ decimal places, e$.$g$.$ $$2\mathrm{.}55.)$

Earnings Per Share $

eTextbook and Media

Question Part Score

Assume the same facts as in part $($b$),$ except that net income included a loss from discontinued operations of

$$413,000($net of tax$).$ Compute earnings per share for $2021.($Round answer to $2$ decimal places, e$.$g$.$

$$2\mathrm{.}55.)$

Swifty Corp.

Income Statement

For the Year Ended December $31,2021$