Reference no: EM132673094
Questions -
Q1. Sunland Corporation had 2020 net income of $1,366,000. During 2020, Sunland has not declared or paid any dividend on 82,000 cumulative preferred shares. Sunland also had 180,000 common shares outstanding during the year. The preferred shares pay an annual dividend of $7 per share.
Calculate Sunland's 2020 earnings per share.
Q2. Blossom Corporation had 2020 net income of $1 million. During 2020, Blossom paid a dividend of $3 per share on 80,000 preferred shares. Blossom also had 250,000 common shares outstanding during the year.
Calculate Blossom's 2020 earnings per share.
Q3. Sheridan Corporation had 2020 net income of $870,000. During 2020, Sheridanhas not declared or paid any dividend on107,000non-cumulative preferred shares. Sheridanalso had150,000common shares outstanding during the year.
Calculate Sheridan's 2020 earnings per share.
Q4. Grouper Cosmetic Inc. (ACI), a cosmetic product manufacturer, is a publicly listed company. ACI is preparing earnings per share data for 2020. The following is a summary of the activity for ACI during 2020: 619,000 common shares issued and outstanding at December 31, 201996,000 common shares issued for cash on April 1, 2020Repurchased 57,600 common shares on June 1, 2020Two-for-one stock split on September 1, 2020.
Calculate the weighted average number of shares outstanding for the year ended December 31, 2020.
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