Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please solve c, thank you! On January 1.2026, Blossom Corp. had 465,000 shares of common stock outstanding. During 2026, it had the following transactions that

please solve c, thank you!
image text in transcribed
image text in transcribed
On January 1.2026, Blossom Corp. had 465,000 shares of common stock outstanding. During 2026, it had the following transactions that affected the common stock account. (a) Your answer is correct. Determine the weighted-average number of shares outstanding as of December 31, 2026. The weighted-average number of shares outstanding Assume that Blossom Corp. earned net income of $3,512,000 during 2026 . In addition, it had 102,000 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 2026. Compute earnings per share for 2026, using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, es. 2.55.) Earnings per share eTextbook and Media Attempts: 1 of 3 used (c) Assume the same facts as in part (b), except that the preferred stock was cumulative. Compute earnings per share for 2026. (Round answer to 2 decimol places, eg. 2.55.) Earnings per share

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Benefit Analysis Concepts And Practice

Authors: Anthony E. Boardman, David H. Greenberg, Aidan R. Vining, David L. Weimer

3rd Edition

0131435833, 978-0131435834

More Books

Students also viewed these Accounting questions