Question
On January 1, 2022, Sheridan Corporation purchased 4,400 shares of treasury stock. Other information regarding Sheridan Corporation is provided as follows. 2021 2022 Net income
On January 1, 2022, Sheridan Corporation purchased 4,400 shares of treasury stock. Other information regarding Sheridan Corporation is provided as follows.
| 2021 | 2022 | |||
|---|---|---|---|---|
| Net income | $88,000 | $96,800 | ||
| Dividends on preferred stock | $26,400 | $26,400 | ||
| Dividends on common stock | $17,600 | $22,000 | ||
| Weighted-average number of common shares outstanding | 44,000 | 39,600 | ||
| Common stockholders equity beginning of year | $528,000 | $660,000 | ||
| Common stockholders equity end of year | $660,000 | $730,400 |
(a) Compute earnings per share for each year. (Round answer to 2 decimal places, e.g. 10.50.)
| 2021 | 2022 | ||||
|---|---|---|---|---|---|
| Earnings per share | $
| $
| |||
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IS Audit And Control For Accountants
Authors: Mr Amir Manzoor
1st Edition
1493665006, 978-1493665006
