At December 31, 2015, Albrecht Corporation had outstanding 253,000 shares of com

Question

At December 31, 2015, Albrecht Corporation had outstanding 253,000 shares of common stock and 16,000 shares of 9.5%, $100 par value cumulative, nonconvertible preferred stock. On May 31, 2016, Albrecht sold for cash 12,000 shares of its common stock. No cash dividends were declared for 2016. For the year ended December 31, 2016, Albrecht reported a net loss of $394,000.

Required: Calculate Albrecht's net loss per share for the year ended December 31, 2016. (Enter your answers in thousands. Negative amounts should be indicated by a minus sign.)

Explanation / Answer

Albrecht's net loss per share for the year ended December 31, 2016. =Albrecht reported a net loss of $394,000./ outstanding 253,000 shares of common stock -sold for cash 12,000 shares of its common stock=-394,000/241,000=-$1.634 per share

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