On January 1, 2020, Oriole Limited had shares outstanding as follows: 5% cumulative preferred shares. $100 par value, 10,600 shares issued and outstanding Common shares, 210,000 shares issued and outstanding $1,060,000 2,100,000 To acquire the net assets of three smaller companies, the company authorized the issuance of an additional 330,000 common shares. The acquisitions were as follows: Shares issued Date of Acquisition Company AApril 1.2020 Company: July 1, 2020 Company October 1, 2020 191.000 104.000 35.000 On May 14, 2020, Oriole realized a $97.000 gain (before tax) on a discontinued operation from a business segment that had originally been purchased in 2000. On December 31, 2020, the company recorded income of $691,000 before tax, not including the discontinued operation gain. Oriole has a 30% tax rate. Calculate the earnings per share for 2020 as it should be reported to shareholders. (Round answer to 2 decimal places, eg. 15.25.) Earnings per share Income before gain from discontinued operations $ Discontinued operations gain net of tax Net Income Assume that Oriole declared a 1-for-2 reverse stock split on February 10, 2021, and that the company's financial statements for the year ended December 31, 2020, were issued on February 28, 2021, Calculate earnings per share for 2020 as it should be reported to shareholders. (Round answer to 2 decimal places, eg. 15.25.) Earnings per share Income before gain from discontinued operations $ Discontinued operations gain net of tax Net Income Crane Corporation had 122,000 common shares outstanding on December 31, 2019. During 2020, the company issued 14,500 shares on March 1. retired 7.200 shares on July 1, issued a 20% stock dividend on October 1, and issued 21.900 shares on December 1. For 2020, the company reported net income of $488,000 after a loss from discontinued operations of $48,400 (net of tax). The company issued a 2-for-1 stock split on February 1, 2021, and the company's financial statements for the year ended December 31, 2020, were issued on February 28, 2021. Calculate earnings per share for 2020 as it should be reported to shareholders. (Round answer to 2 decimal places, es. 15.75.) Earnings per share Income per share before discontinued operations $ 4.06 Discontinued operations loss per share, net of tax $ 0.47 Net income per share 3.69 On January 1, 2020, Blossom Ltd. had 618,000 common shares outstanding. During 2020, it had the following transactions that affected the common share account: Feb. 1 Mar 1 May 1 Issued 192,000 shares. Issued a 13stock dividend Acquired 221,000 common shares and retired them Issued a 3-for-1 stock split Issued 48,000 shares Jurve 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 0 decimal places, eg. 5,275.) Weighted average number of shares outstanding shares e Textbook and Media Assume that Blossom earned net income of $3,629,000 during 2020. In addition, it had 110,000 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, s. 1525) 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 eTextbook and Media Assume that Blossom earned net income of $3,629,000 during 2020. In addition, it had 110,000 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, es 15.250 Assume that Blossom earned net income of $3,629,000 during 2020. In addition, it had 110,000 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 e Textbook and Media Assume that Blossom earned net income of $3,629,000 during 2020. In addition, it had 110,000 of 11%, $100 par non- convertible, non-cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the comparvy did not declare and pay a preferred dividend in 2020. Assume that net income included a loss from discontinued operations of $461,000.net of applicable income taxes. e here to search Assume that Blossom earned net income of $3,629,000 during 2020. In addition, it had 110,000 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 $461,000, 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 Sheridan Corporation had net income of $52,800 for the year ended December 31, 2020, and a weighted average number of common shares outstanding of 10,900. The following information is provided regarding the capital structure: 1. 7% convertible debt, 210 bonds each convertible into 46 common shares. The bonds were outstanding for the entire year. The income tax rate is 45%. The bonds were issued at par ($1,000 per bond). No bonds were converted during the year 4% convertible cumulative $110 preferred shares, 1,100 shares issued and outstanding. Each preferred share is convertible into 2 common shares. The preferred shares were issued at par and were outstanding the entire year. No shares were converted during the year. 2. Calculate the income effect of the dividends on preferred shares Dividends on preferred shares Calculate the basic earnings per share for 2020. (Round answer to 2 decimal places, e.g. 15.25.) Basic earnings per share $ e Textbook and Media Calculate the after-tax interest paid on the 7% bonds After-tax interest on bonds converted $ Determine an incremental per share effect for 7% bonds. (Round earnings per share to 2 decimal places, e.g. 15.25.) Potentially dilutive security Incremental Numerator Effect Incremental Denominator Effect EPS 7% Bonds $ $ eTextbook and Media Determine an incremental per share effect for 4% preferred shares. (Round earnings per share to 2 decimal places, es. 15.25.) Potentially dilutive security Incremental Numerator Effect Incremental Denominator Effect EPS 4% Preferred shares 5 $ Type here to search Rank the potentially dilutive securities from most dilutive to least dilutive. 7% Bonds 4% Preferred shares eTextbook and Media Calculate the diluted earnings pershare for 2020, using the converted method. For simplicity ignore the requirement to record the debt and equity components of the bonds separately (Round carings per share to 2 decimal places. 15.25 Calculate the diluted earnings per share for 2020, using the if-converted method. For simplicity, ignore the requirement to record the debt and equity components of the bonds separately. (Round earnings per share to 2 decimal places, eg, 15.25.) Numerator Denominator EPS Basic $ $ Sub Total muestion 5 of 6 -/1 Sub Total Diluted EPS Carla VistaCorporation is preparing earnings per share data for 2020. The net income for the year ended December 31, 2020 was $395,000 and there were 58,000 common shares outstanding during the entire year. Carla Vista has the following two convertible securities outstanding 10% convertible bonds (each $1,000 bond is convertible into 20 common shares) 4% convertible $100 par value preferred shares (each share is convertible into 2 common shares) $111.000 $48.000 Both convertible securities were issued at face value in 2017. There were no conversions during 2020, and Carla Vista's income tax rate is 22%. The preferred shares are cumulative. For simplicity, ignore the requirement to record the debt and equity components of the bonds separately Calculate the income effect of the dividends on preferred shares Dividends on preferred shares Calculate Carla Vista's basic earnings per share for 2020. (Round answer to 2 decimal places, eg. 15.25.) We Basic earnings per share $ e Textbook and Media Calculate the after-tax interest paid on the 10% bonds After-tax interest $ Determine an incremental per share effect for each potentially dilutive security. (Round earnings per share to 2 decimal places, eg. 15.25.) Potentially dilutive security Incremental Numerator Effect Incremental Denominator Effect EPS Bonds 10% $ eTextbook and Media Determine an incremental per share effect for each potentially dilutive security. (Round earnings per share to 2 decimal places, e.g. 15.25.) Potentially dilutive security Incremental Numerator Effect Incremental Denominator Effect EPS Determine an incremental per share effect for each potentially dilutive security. (Round earnings per share to 2 decimal places, eg. 15.25.) Potentially dilutive security Incremental Numerator Effect Incremental Denominator Effect EPS 4% Preferred shares $ e Textbook and Media Rank the potentially dilutive securities from most dilutive to least dilutive. Rank 1 Rank 2 Calculate Carla Vista's diluted earnings per share for 2020. (Round earnings per share to 2 decimal places, eg. 15.25.) Numerator Denominator EPS Basic $ $ Sub Total - / 1 Recalculate Carla Vista's basic and diluted earnings per share for 2020, assuming instead that the preferred shares pay a 14% dividend. Calculate the income effect of the dividends on preferred shares. Dividends on preferred shares $ eTextbook and Media Calculate Carla Vista's basic earnings per share for 2020. (Round answer to 2 decimal places, eg 15.25) Basic earnings per share Determine an incremental per share effect for the 14% preferred shares. (Round earnings per share to 2 decimal places, eg. 15.25) Potentially dilutive security Incremental Numerator Effect Incremental Denominator Effect EPS 14% Preferred shares The 14% shares are e Textbook and Media Calculate Carla Vistas dilutive earnings per share for 2020. (Round answer to 2 decimal places, s. 15.25 Diluted earnings per share Type here 19