Question
Please answer with good presentation using commas in each figure Assume that the following data relative to Kane Company for 2015 is available: Net Income
Please answer with good presentation using commas in each figure
Assume that the following data relative to Kane Company for 2015 is available:
Net Income $2,845,000
Transactions in Common Shares
Jan. 1, 2015, Beginning number of shares 972,000
Mar. 1, 2015, Purchase of treasury shares 86,400
August 1, 2015 Stock Dividend of 37%
December 1, 2015 Issuance of new shares 93,000
6 % Cumulative Convertible Preferred Stock
Sold at par, convertible into 114,000 shares of common (already adjusted for stock dividend). $725,000
Stock Options
24,000 exercisable at the option price of $25 per share. Average market price in 2015 was $34 (market price and option price adjusted for stock dividend)
a.Calculate the dividend paid to preferred stockholders.
b. Calculate the weighted-average shares outstanding during the year
c.Compute the basic earnings per share (Round answer to nearest penny)
d.Compute the diluted earnings per share (Round answer to nearest penny)
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