Question
The Common Stock account for Alpha Corporation on January 1, 2019 was $37,500. On June 1, 2019 Alpha issued an additional 2,500 shares of common
- The Common Stock account for Alpha Corporation on January 1, 2019 was $37,500. On June 1, 2019 Alpha issued an additional 2,500 shares of common stock. The Common Stock is $5 par. There was neither Preferred Stock nor any Treasury Stock, Paid in Capital Excess to par Common Stock was $10,000 on January 1 and $15,000 on June 2 and retained earnings was $104,700.Use this information to determine for December 31, 2019 the amount of:
a. Total Stockholders Equity
b. Earnings per Share (rounded to the nearest penny)
2. During all of fiscal year 2017, Alpha Corporation had outstanding 100,000 shares of $10 par common stock and 5,000 shares of noncumulative, $100 par value, 6% preferred stock.For 2017, Alpha Corporation had $230,000 net income and dividends were paid only to preferred shareholders.Use this information to determine how much Alpha Corporation should report for 2017 basic earnings (loss) per share for income (loss) from continuing operations. If it is a loss EPS then present the value in brackets.
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