Answer Happy

6 points Gina Co. had the following information related to common and preferred shares during the year: Common shares outstanding, 1/1 900,000 Common shares repurchased, 3/31 25,000 Conversion of preferred shares, 6/30 32,000 Common shares repurchased, 12/1 30,000 Chape reported net income of $3,000,000 at December 31. What amount of shares should Chape use as the DENOMINATOR in the computation of basic earnings per share? (6pts) Your answer
6 points Bain Co. had 280,000 shares of common stock issued and outstanding at December 31, Year 1. No common stock was issued during Year 2. On January 1, Year 2, Bain issued 250,000 shares of nonconvertible preferred stock. During Year 2, Bain declared and paid $80,000 of cash dividends on the common stock and $70,000 on the preferred stock. Net income for the year ended December 31, Year 2, was $420,000. What should be Bain's Year 2 basic earnings per common share? (6pts) Your answer
6 points On January 1, Life Distributors had a balance of 20,000 shares of common stock outstanding. On June 1, the company issued an additional 3,000 shares of common stock for cash. A total of 5,000 shares of cumulative 5%, $90 par, nonconvertible preferred stock was outstanding all year. Life's net income was $165,000 for the year. The earnings per share for the year were (6 points) Your answer