Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On January 1, 2020, Crane Ltd. had 570,000 common shares outstanding. During 2020, it had the following transactions that affected the common share account: Feb.

image text in transcribed

On January 1, 2020, Crane Ltd. had 570,000 common shares outstanding. During 2020, it had the following transactions that affected the common share account: Feb. 1 Mar. 1 May 1 June 1 Oct. 1 Issued 154,000 shares. Issued a 16% stock dividend, Acquired 164,000 common shares and retired them. Issued a 3-for-1 stock split. Issued 78.000 shares. The company's year end is December 31. Determine the weighted average number of shares outstanding as at December 31, 2020. (Round answer to 0 decimal places, eg. 5,275.) shares Weighted average number of shares outstanding e Textbook and Media Assume that Crane earned net income of $3,840,000 during 2020. In addition, it had 80,000 of 11%, $100 par, non-convertible, non-cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2020. Calculate earnings per share for 2020, using the weighted average number of shares determined above. (Round answer to 2 decimal places, e.g. 15.25.) $ Earnings per share e Textbook and Media Assume that Crane earned net income of $3,840,000 during 2020. In addition, it had 80,000 of 11%, $100 par, non-convertible, cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2020. Calculate earnings per share for 2020, using the weighted average number of shares determined above. (Round answer to 2 decimal places, eg. 15.25.) $ Earnings per share Assume that Crane earned net income of $3,840,000 during 2020. In addition, it had 80,000 of 11%, $100 par, non-convertible, non-cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2020. Assume that net income included a loss from discontinued operations of $482,000, net of applicable income taxes. Calculate earnings per share for 2020. (Round answers to 2 decimal places, eg. 15.25.) Earnings per share $ Income from continuing operations Loss from discontinued operations $ Net income $

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