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The followng data relate to the operations of Slick Software, Inc., durling 2021. Required: a. Prepare a condensed Income statement for 2021, Including earnings per
The followng data relate to the operations of Slick Software, Inc., durling 2021. Required: a. Prepare a condensed Income statement for 2021, Including earnings per share figures. Slick Software, Inc., had 200,000 shares of $1 par value common stock and 80,000 shares of $6.25,$100 par value preferred stock outstanding throughout the year. b. Prepare a statement of retained earnings for the year ended December 31,2021 . As originally reported, retained eamings at December 31,2020 , amounted to $7,285,000. c. Compute the amount of cash dividend per share of common stock declared by the board of directors for 2021 . Assume no dividends in arrears on the preferred stock. d. Assume that 2021 earnings per share is a single figure and amounts to $8.00. Assume also that there are no changes in outstanding common or preferred stock in 2022 . Do you consider the $8.00 earnings per share figure in 2022 to be a favorable or unfavorable figure in comparison with 2021 performance? Complete this question by entering your answers in the tabs below. Prepare a condensed income statement for 2021, including earnings per share figures. Slick Software, Inc,r had 200,000 shares of $1 par value common stock and 80,000 shares of $6.25, $100 par value preferred stock outstanding throughout the year. (Round Earnings per share to 2 decimal places.)
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