Stanley Department Stores reported net income of $963,000 for the year ended December 31, 2018. Additional Information:
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Question:
Stanley Department Stores reported net income of $963,000 for the year ended December 31, 2018.
Additional Information:
Common shares outstanding at Jan. 1, 2018 | 145,000 |
Incentive stock options (vested in 2017) outstanding throughout 2018 | 36,000 |
(Each option is exercisable for one common share at an exercise price of $28.50) | |
During the year, the market price of Stanley’s common stock averaged $34.2 per share. | |
On Aug. 30 Stanley sold 15,000 common shares. | |
Stanley’s only debt consisted of $47,000 of 10% short term bank notes. | |
The company’s income tax rate is 40%. | |
Required:
Compute Stanley’s basic and diluted earnings per share for the year ended December 31, 2018
Related Book For
Intermediate Accounting
ISBN: 978-0078025839
9th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
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