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Firefox File Edit View History Bookmarks Tools Window Help G O 42% CT, Wed 6:50 PM x / + Updates Available New software is ready to be installed CengageBrain-My Home CengageNOWV2 I Online t Details ) v2.cengagenow.com/il rn/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentsession; Locator=assignment-t | (a search Update HW Ch11 eBook Print Item EPS 1. EX.11-2.ALGO Financial information for Semester Company for three recent years is as follows: 2. Ex.11-3.Algo 3. Ex.11-4.Algo 4. Ex.11-5.Algo 5. Ex.11-6.Algo 6. Ex.11-8.Algo 7. Ex.11-9.Algo 8. Ex.11-10.Algo 9. Ex.11-12.Algo 10. Ex.11-14.Algo 11. Ex.11-16.Algo 12. EX.11-20.ALGO 13. Ex.11-22.Algo 14. EX.11-23.ALGO Fiscal Years Ended 2 Year 1 $10,548 $8,865 $7,040 $287 $225 $165 3,1003,000 2,500 Year 3 Year Net income Preferred dividends Average number of common shares outstanding Determine the earnings per share for fiscal Year 3, Year 2, and Year 1. Round to two decimal places. Year 3 Earnings $ Year 2 Earnings $ Year 1 Earnings $ per share per share per share 15. EX.11-24.ALGO Check My Work Previous Progress: 15/15 items signment Score: 13.17% Email Instructor Save and Exit Submit Assignment for Grading 5Explanation / Answer
1 Semester Company Details Year 1 Year 2 Year 3 Net Income 10,548 8,865 7,040 Preferred Dividends 287 225 165 Net Income available for Common shareholders 10,261 8,640 6,875 Average no of Common Shares outstanding= 3,100 3,000 2,500 Earning Per Share $ 3.31 $ 2.88 $ 2.75 2 Point Loma Group Inc. StockHolders Equity (Paid In Capital) Section Oct 31.20XX Details Amt $ Common Stock no Par,$15 stated value (375,000 authorised,339,000 issued) 5,085,000 Paid In Capital in excess of stated -Common Stock 468,500 Preferred Stock 2% ,$110 par ,85000 authorised,65000 issued 7,150,000 Paid In Capital in Excess of Par-Preferred stock 194,000 Paid in Capital from sale of Treasury Stock 42,100 Total Paid In Capital 12,939,600 3 Journal Entries Date Account Title Dr $ Cr $ Mar 1. Cash 2,000,000 Common Stock ($10par) 2,000,000 ( Issue of 200,000 common stock at par) Mar 1. Organization Expense 4,000 Common Stock ($10par) 4,000 ( Issue of 400 shares at par for legal expenses) May 31. Land 149,800 Building 474,380 Equipment 163,600 Common Stock ($10par) - Paid in Capital in Excess of Par Common Stock - ( Issue of 66200 shares against assets) Jul 1. Preferred stock 2% ($100par) 1,940,000 Paid In Capital in excess of Par-Preferred stock 135,800 Cash 2,075,800 ( issue of 19400 shares preferred stock $100 par @$107) 4 Preferred stock outstanding -Cumulative 10,000 Value per Pref share 20 Prerefence share value 200,000 Preference dividend @1% per year= 2,000 No of common shares outstanding 13,000 Dividend distribution Preference Arrear Common Total Year 1 800 1,200 - 800 Year 2 1,100 900 - 1,100 Year 3 4,100 - 11,570 15,670 Year 4 2,000 - 39,390 41,390 Dividend Per share Year 1 Year 2 Year 3 Year 4 Preference dividend 800 1,100 4,100 2,000 Preference dividend /Share $ 0.08 $ 0.11 $ 0.41 $ 0.20 Common stock dividend - - 11,570 39,390 Common stock dividend /share - - $ 0.89 $ 3.03
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