- On December 31 2019 Americana Inc Had 350 000 Shares Of Common Stock Issued And Outstanding Americana Inc Issued A 1 (188.04 KiB) Viewed 33 times
On December 31, 2019, Americana Inc. had 350,000 shares of common stock issued and outstanding. Americana Inc. issued a 40% stock dividend on July 1, 2020. On October 1, 2020, the company purchased 40,000 shares of its common stock for the treasury, and declared a 2-for-1 stock split on December 31, 2020. American also had 20,000 shares of 5%, $20 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or the common stock in 2019 or 2020. Net income for 2020 was $1,900,000. Required Note: In the following calculations, enter the earnings per share amounts in dollars and cents, rounded to the nearest penny. a. Compute the required EPS amount. Net Income Available to Weighted Avg. Common Common Stockholders Shares Outstanding Share Basic EPS $ $ Per b. Compute the required EPS amount assuming instead that Americana Inc. declared and paid the current year preferred dividend and one year of dividends in arrears in December 2020. Net Income Available to Weighted Avg. Common Common Stockholders Shares Outstanding Basic EPS $ Per Share C. Compute the required EPS amount assuming instead that the preferred stock is noncumulative. Net Income Available to Weighted Avg. Common Per Common Stockholders Shares Outstanding Share Basic EPS $ $ >