The records of Seahawks Company reflected the following balances in the stockholders' equity accounts at the end of the current wear: Common stock, $12 par value, 35,000 shares outstanding Preferred stock, 9 percent, $10 par value, 10,000 shares outstanding Retained earnings, $229,000 On September 1 of the current year, the board of directors was considering the distribution of a(n) $77,000 cash dividend. No dividends were paid during the previous two years. You have been asked to determine dividend amounts under two independent assumptions: a. The preferred stock is noncumulative. o. The preferred stock is cumulative. Required: 1. Determine the total and per share amounts that would be paid to the common stockholders and the preferred stockholders under he two independent assumptions. Note: Round your "per share" amounts to 2 decimal places. Noncumulative: Total Per share Cumulative: Total Per share Preferred stock Common stock

The records of Seahawks Company reflected the following balances in the stockholders' equity accounts at the end of the current wear: Common stock, $12 par value, 35,000 shares outstanding Preferred stock, 9 percent, $10 par value, 10,000 shares outstanding Retained earnings, $229,000 On September 1 of the current year, the board of directors was considering the distribution of a(n) $77,000 cash dividend. No dividends were paid during the previous two years. You have been asked to determine dividend amounts under two independent assumptions: a. The preferred stock is noncumulative. o. The preferred stock is cumulative. Required: 1. Determine the total and per share amounts that would be paid to the common stockholders and the preferred stockholders under he two independent assumptions. Note: Round your "per share" amounts to 2 decimal places. Noncumulative: Total Per share Cumulative: Total Per share Preferred stock Common stock

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 12RE: Given the following year-end information, compute Greenwood Corporations basic and diluted earnings...

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Longmont Corporation earned net income of $90,000 this year. The company began the year with 600 shares of common stock and issued 500 more on April 1. They issued $5,000 in preferred dividends for the year. What is the numerator of the EPS calculation for Longmont?
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Given the following year-end information, compute Greenwood Corporations basic and diluted earnings per share. Net income, 15,000 The income tax rate, 30% 4,000 shares of common stock were outstanding the entire year. shares of 10%, 50 par (and issuance price) convertible preferred stock were outstanding the entire year. Dividends of 2,500 were declared on this stock during the year. Each share of preferred stock is convertible into 5 shares of common stock.
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The records of Seahawks Company reflected the following balances in the stockholders' equity accounts at the end of the current year: Common stock, $11 par value, 49,000 shares outstanding Preferred stock, 8 percent, $9 par value, 9,000 shares outstanding Retained earnings, $231,000 On September 1 of the current year, the board of directors was considering the distribution of a(n) $71,000 cash dividend. No dividends were paid during the previous two years. You have been asked to determine dividend amounts under two independent assumptions: a. The preferred stock is noncumulative. b. The preferred stock is cumulative. Required: 1. Determine the total and per share amounts that would be paid to the common stockholders and the preferred stockholders under the two independent assumptions. Note: Round your "per share" amounts to 2 decimal places. Noncumulative: Total Per share Cumulative: Total Per share $ Preferred stock Common stock 35,280 $ 64,520
The records of Seahawks Company reflected the following balances in the stockholders' equity accounts at the end of the current year. Common stock, $11 par value, 44,000 shares outstanding Preferred stock. 8 percent. $9 par value, 5,000 shares outstanding Retained earnings, $235.000 On September 1 of the current year, the board of directors was considering the distribution of a(n) $73,000 cash dividend. No dividends were paid during the previous two years. You have been asked to determine dividend amounts under two independent assumptions: a. The preferred stock is noncumulative. b. The preferred stock is cumulative. Required: 1. Determine the total and per share amounts that would be paid to the common stockholders and the preferred stockholders under the two independent assumptions. Note: Round your "per share" amounts to 2 decimal places. Answer is complete but not entirely correct. Preferred stock Noncumulative Total Per share Cumulative Total Per share $ $ S $ Common stock 3,520$…
The records of Seahawks Company reflected the following balances in the stockholders' equity accounts at the end of the current year: Common stock, $10 par value, 42,000 shares outstanding Preferred stock, 12 percent, $8 par value, 8,000 shares outstanding Retained earnings, $223,000 On September 1 of the current year, the board of directors was considering the distribution of a(n) $65,000 cash dividend. No dividends were paid during the previous two years. You have been asked to determine dividend amounts under two independent assumptions: The preferred stock is noncumulative. The preferred stock is cumulative. Required: 1. Determine the total and per share amounts that would be paid to the common stockholders and the preferred stockholders under the two independent assumptions. Note: Round your "per share" amounts to 2 decimal places. Preferred stock Common stock Noncumulative: Total Per share Cumulative: Total Per share