On January 1, 2021, Carla Corp. had 474,000 shares of common stock outstanding. During 2021, it...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/66526f820fa45_52966526f81a2329.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/66526f829ed35_53066526f825a226.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/66526f83287b5_53066526f82c7873.jpg)
Transcribed Image Text:
On January 1, 2021, Carla Corp. had 474,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. February 1 Issued 120,000 shares March 1 Issued a 10% stock dividend May 1 Acquired 98,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 58,000 shares of treasury stock Determine the weighted-average number of shares outstanding as of December 31, 2021. The weighted-average number of shares outstanding Assume that Carla Corp. earned net income of $3,324,000 during 2021. In addition, it had 99,000 shares of 8%, $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, eg. $2.55.) Earnings Per Share $ eTextbook and Media 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, eg. $2.55.) Earnings Per Share Assume the same facts as in part (b), except that net income included a loss from discontinued operations of $412,000 (net of tax). Compute earnings per share for 2021. (Round answer to 2 decimal places, eg. $2.55.) Carla Corp. Income Statement On January 1, 2021, Carla Corp. had 474,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. February 1 Issued 120,000 shares March 1 Issued a 10% stock dividend May 1 Acquired 98,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 58,000 shares of treasury stock Determine the weighted-average number of shares outstanding as of December 31, 2021. The weighted-average number of shares outstanding Assume that Carla Corp. earned net income of $3,324,000 during 2021. In addition, it had 99,000 shares of 8%, $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, eg. $2.55.) Earnings Per Share $ eTextbook and Media 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, eg. $2.55.) Earnings Per Share Assume the same facts as in part (b), except that net income included a loss from discontinued operations of $412,000 (net of tax). Compute earnings per share for 2021. (Round answer to 2 decimal places, eg. $2.55.) Carla Corp. Income Statement
Expert Answer:
Posted Date:
Students also viewed these finance questions
-
Tonys Electronics Corporation needs 12,000 units of a certain part to be used in the production of its karaoke machines. If Tonys Electronics buys the part from Scott Company instead of making it...
-
Diagram either example of the continuous-response avoidance used to maintain erect posture. LO2
-
Compute the times interest earned for 2014. (a) 11.2 times. (c) 14.0 times. (b) 65.3 times. (d) 13.0 times.
-
Michael Scotto borrowed $ 2,970 from Cindy Vinueza. Both of their signatures appeared at the bottom of a note that stated, I Michael Scotto owe Cindy Vinueza $ 2,970 (two thousand and nine- hundred &...
-
Transcribed image text: 2013 Want asment and funce sher) The balance sheet and consolidated in an attent for Onno Corporation has been provided. What is the command income statement and balance sheet...
-
Transcribed image text: Tempo Company's fixed budget (based on sales of 12,000 units) for the first quarter reveals the following Fixed Budget Sales (12,000 units * $21e per unit) $2,520,000 Cost of...
-
This is a capstone forum requiringconsolidation of information learned and skills acquired during the courseterm. Here you will share with classmates a research study proposal you havedeveloped that...
-
Assume that ABC Ltd is trying to set the selling price for one of its products and three prices are under consideration. These are Sh.4, Sh.4.30 & Sh.4.40 The following information is also provided...
-
Calculate the single-sided upper bounded 90% confidence interval for the population mean (mu) given that a sample of size n=7 yields a sample mean of 13.00 and a sample standard deviation of 1.30....
-
E. An antique airplane carries 19 meters of external guy wires stretched normal to the direction of motion. The diameter of the wires is 8 millimeters. As a first cut, assume simple uniform flow into...
-
I have 2 fiscal years worth of data - I have to group the icd-10-ca main diagnosis codes into meaningful groups - there are over a 100 of them - what would be the most efficient way to analyze the...
-
Should courts in the United States be more open to considering claims for damages based on emotional distress in the case of consumer privacy incursions? Why/why not?
-
The form listing the titles and balances of the accounts in the ledger on a given date is the: LO5 A. income statement. B. balance sheet. C. statement of owner's equity. D. trial balance.
-
Explain why the rules of debit and credit are the same for liability accounts and owner's equity accounts. LO5
-
The type of account with a normal credit balance is: LO5 A. an asset. C. a revenue. B. drawing. D. an expense.
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App