Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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 Incentive

image text in transcribed
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 Incentive stock options (vested in 2017) outstanding throughout 2018 (Each option is exercisable for one common share at an exereise 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 18 408 145,000 36,000 Required: Compute Stanley's basic and diluted earnings per share for the year ended December 31, 2018. (Enter your answers in thousands.) NumeratorDenominator Earnings per S Basic EPS Diluted EPS

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_2

Step: 3

blur-text-image_3

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 Management Accounting And Control

Authors: Don R. Hansen, Maryanne M. Mowen

4th Edition

0324069731, 978-0324069730

More Books

Students also viewed these Accounting questions