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Please help me answer this! Give correct answer kudos! Question 10 of 10 0.5/1 E View Policies Show Attempt History Current Attempt in Progress On
Please help me answer this! Give correct answer kudos!
Question 10 of 10 0.5/1 E View Policies Show Attempt History Current Attempt in Progress On January 1, 2021, Bridgeport Corp. had 491.000 shares of common stock outstanding. During 2021. it had the following transactions that affected the Common Stock account February 1 March 1 Issued 114,000 shares Issued a 10% stock dividend Acquired 103,000 shares of treasury stock Issued a 3-for-1 stock split May 1 June 1 October 1 Reissued 60,000 shares of treasury stock Your answer is correct Determine the weighted-average number of shares outstanding as of December 31, 2021. MacBook Air Your answer is correct. Determine the weighted average number of shares outstanding as of December 31, 2021. The weighted average number of shares outstanding 1774150 e Textbook and Media Attempts: 1 of 5 used b) Your answer is correct. Assume that Bridgeport Corp.earned net income of $ 3,619,000 during 2021. In addition, it had 98,000 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, eg. $2.55) $ 2.04 Earnings Per Share MacBook Air Attempts: 1 of 5 used (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, eg. $2.55.) Earnings Per Share $ e Textbook and Media Attempts: 0 of 5 used Submit Answer Save for Later (d) The parts of this question must be completed in order. This part will be available when you complete the part above. MacBook Air Solution: Fraction of year (a) Calculation of weighted average number of shares autstanding Date Shalde ouklanding X 10%.dividend x 31split weighted Average Tan. 491,000 X 1112 X 110 X 3 135,025 Febul (491,000 + 114,000) X 1/12 x 110% X 3 166,375 Mar! ( 491,000+ 114,000 +60500) x 212 X3 332,750 Mayl (665,500 - 103,000) X 1/12 X3 140,625 June ( 562,500 x 3, (split) x42 562,500 Och (168 7 500 +60,000) x 3/12 436,875 Total weighted average number of Shaves outstand 1,774,150 share (6) Calculation of earning per share :- Earning per Net Income weighted average number of Shalls outstanding - $3,619,000 / 1,774,150 Shares = ($2.041 per share Earning per share Earning per share Step by Step Solution
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