PART A:

Determine the weighted-average number of shares outstanding as of December 31, 2021.

The weighted-average number of shares outstanding

ANSWER IS 1781525

PART B.)

Assume that Shamrock Corp. earned net income of $ 3,330,000 during 2021. In addition, it had 105,000 shares of 9%, $ 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, e.g. $2.55.)

Earnings Per Share

ANSWER IS 1.87 PER SHARE

PART C. )

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, e.g. $2.55.)

Earnings Per Share ANSWER IS 1.34

PART D.)

Assume the same facts as in part (b), except that net income included a loss from discontinued operations of $ 431,000 (net of tax). Compute earnings per share for 2021. (Round answer to 2 decimal places, e.g. $2.55.)

Shamrock Corp. Income Statement choose the accounting periodchoose the accounting period December 31, 2021For the Year Ended December 31, 2021For the Quarter Ended December 31, 2021
select an opening name for this statement select an opening name for this statement DividendsExpensesExtraordinary LossExtraordinary GainIncome Before Extraordinary ItemIncome From Continuing OperationsIncome Per Share Before Extraordinary ItemLoss From Discontinued OperationsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues		$ enter a dollar amount per share rounded to 2 decimal placesenter a dollar amount per share rounded to 2 decimal places
select an income statement item select an income statement item DividendsExpensesExtraordinary LossExtraordinary GainIncome Before Extraordinary ItemIncome From Continuing OperationsIncome Per Share Before Extraordinary ItemLoss From Discontinued OperationsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues		enter a dollar amount per share rounded to 2 decimal placesenter a dollar amount per share rounded to 2 decimal places
select a closing name for this statement select a closing name for this statement DividendsExpensesExtraordinary LossExtraordinary GainIncome Before Extraordinary ItemIncome From Continuing OperationsIncome Per Share Before Extraordinary ItemLoss From Discontinued OperationsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues		enter a total earnings per share amount rounded to 2 decimal placesenter a total earnings per share amount rounded to 2 decimal places

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