Answered step by step
Verified Expert Solution
Question
1 Approved Answer
On January 1, 2020, Ivanhoe Ltd. had 612,000 common shares outstanding. During 2020, it had the following transactions that affected the common share account: Feb.
On January 1, 2020, Ivanhoe Ltd. had 612,000 common shares outstanding. During 2020, it had the following transactions that affected the common share account: Feb. 1 Mar. 1 May 1 Issued 154,000 shares. Issued a 10% stock dividend. Acquired 166,000 common shares and retired them. Issued a 3-for-1 stock split Issued 61,000 shares. June 1 Oct 1 The company's year end is December 31. Determine the weighted average number of shares outstanding as at December 31, 2020. (Round answer to decimal places, eg. 5,275.) Weighted average number of shares outstanding shares eTextbook and Media Assume that Ivanhoe earned net income of $3,471,000 during 2020. In addition, it had 100,000 of 8%, $ 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 Assume that Ivanhoe earned net income of $3,471,000 during 2020. In addition, it had 100,000 of 8%, $ 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 e Textbook and Media Assume that Ivanhoe earned net income of $3,471,000 during 2020. In addition, it had 100,000 of 8%, $ 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 $ 495,000, 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
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