Crane Corp's net income for 2023 is $153,920. The only potentially dilutive securities outstanding were 2,400 call options issuedduring 2022, with each option being exercisable for one share at $24. None have been exercised, and 38,000 common shares wereoutstanding during 2023. The average market price of the company's shares during 2023 was $30.Your answer is correct.Calculate diluted earnings per share for the year ended December 31, 2023. (Round answer to 2 decimal places, e.g. 15.25.)Diluted earnings per shareeTextbook and Media× Your answer is incorrect.$4.00Assuming that the 2,400 call options were instead issued on November 1, 2023 (rather than in 2022), calculate diluted earningsper share for the year ended December 31, 2023. The average market price during the last two months of 2023 was $30. (Roundanswer to 2 decimal places, e.g. 15.25.)Diluted earnings per share$4.00

A company's profits per share as if all convertible securities were converted are measured as…

Answered: Crane Corp's net income for 2023 is…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Sheffield Company's net income for 2025 is $53,200. The only potentially dilutive securities outstanding were 1,000 options issued during 2024, each exercisable for one share at $6. None has been exercised, and 10,700 shares of common were outstanding during 2025. The average market price of Sheffield's stock during 2025 was $25. a. Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. 2.55.) Diluted earnings per share $ b. Assume the same facts as those assumed for part (a), except that the 1,000 options were issued on October 1, 2025 (rather than in 2024). The average market price during the last 3 months of 2025 was $25. (Round answer to 2 decimal places, e.g. 2.55.) Diluted earnings per share
Tamarisk Company's net income for 2025 is $598.000, and 84,000 shares of common stock were issued and outstanding during 2025. The only potentially dilutive securities outstanding were 27,000 executive stock options issued during 2024, each exercisable for one share at $19.00, none of these have been exercised. The average market price of Tamarisk's stock during 2025 was $25. (a) Compute diuted earnings per share. (Round answer to 2 decimal places, eg 2.55) Diluted earnings per share $ (b) Assume the same facts as those assumed for part (a), except that 10.000 additional options were issued on October 1, 2025, with an exercise price of $26 (the market price of the common stock on that date). The average market price during the last 3 months of 2025 was $28.00. (Round answer to 2 decimal places, eg. 2.55) Diluted earnings per share $
Ayayai Company’s net income for 2020 is $52,900. The only potentially dilutive securities outstanding were 1,040 options issued during 2019, each exercisable for one share at $6. None has been exercised, and 10,900 shares of common were outstanding during 2020. The average market price of Ayayai’s stock during 2020 was $20.(a) Compute diluted earnings per share. Diluted earnings per share $
Shamrock Company’s net income for 2020 is $52,300. The only potentially dilutive securities outstanding were 1,200 options issued during 2019, each exercisable for one share at $6. None has been exercised, and 9,300 shares of common were outstanding during 2020. The average market price of Shamrock’s stock during 2020 was $20. (a) Compute diluted earnings per share. (b) Assume the same facts as those assumed for part (a), except that the 1,200 options were issued on October 1, 2020 (rather than in 2019). The average market price during the last 3 months of 2020 was $20. Diluted earnings per share
Sage Company's net income for 2020 is $47,100. The only potentially dilutive securities outstanding were 1,000 options issued during 2019, each exercisable for one share at $6. None has been exercised, and 9.700 shares of common were outstanding during 2020. The average market price of Sage's stock during 2020 was $15. (a) Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share $ (b) Assume the same facts as those assumed for part (a), except that the 1,000 options were issued on October 1, 2020 (rather than in 2019). The average market price during the last 3 months of 2020 was $15. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share $
Novak Company’s net income for 2020 is $594,000, and 91,000 shares of common stock were issued and outstanding during 2020. The only potentially dilutive securities outstanding were 26,000 executive stock options issued during 2019, each exercisable for one share at $19.50, none of these have been exercised. The average market price of Novak’s stock during 2020 was $25.00.(a) Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. 2.55.) Diluted earnings per share $enter a dollar amount rounded to 2 decimal places (b) Assume the same facts as those assumed for part (a), except that 10,000 additional options were issued on October 1, 2020, with an exercise price of $26.00 (the market price of the common stock on that date). The average market price during the last 3 months of 2020 was $28.50. (Round answer to 2 decimal places, e.g. 2.55.) Diluted earnings per share $enter the diluted earnings per share in dollar rounded to 2 decimal places
Marin Company’s net income for 2020 is $691,000, and 91,000 shares of common stock were issued and outstanding during 2020. The only potentially dilutive securities outstanding were 23,000 executive stock options issued during 2019, each exercisable for one share at $21.00, none of these have been exercised. The average market price of Marin’s stock during 2020 was $26.50.(a) Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. 2.55.) Diluted earnings per share $enter a dollar amount rounded to 2 decimal places (b) Assume the same facts as those assumed for part (a), except that 10,000 additional options were issued on October 1, 2020, with an exercise price of $27.50 (the market price of the common stock on that date). The average market price during the last 3 months of 2020 was $30.00. (Round answer to 2 decimal places, e.g. 2.55.) Diluted earnings per share $enter the diluted earnings per share in dollar rounded to 2 decimal places
Windsor Company’s net income for 2020 is $51,500. The only potentially dilutive securities outstanding were 900 options issued during 2019, each exercisable for one share at $6. None has been exercised, and 10,700 shares of common were outstanding during 2020. The average market price of Windsor’s stock during 2020 was $18.(a) Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share $ (b) Assume the same facts as those assumed for part (a), except that the 900 options were issued on October 1, 2020 (rather than in 2019). The average market price during the last 3 months of 2020 was $18. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share $
Oriole Company had net income for 2021 of $603000. The average number of shares outstanding for the period was 201000 shares. The average number of shares under outstanding options, at an option price of $29 per share is 12600 shares. The average market price of the common stock during the year was $36. What should Oriole Company report for diluted earnings per share for the year ended 2021?
Razi Co. had net income for 2021 of $300,000. The average number of shares outstanding for the period was 200,000 shares. The average number of shares under outstanding options, at an option price of $30 per share is 12,000 shares. The average market price of the ordinary shares during the year was $36. What should Razi Co, report for diluted earnings per share for the year ended 2021? Select one: a.$1.50 $1.49 C.$1.42 d.1.43
Bramble Corp. had net income for 2021 of $598000. The average number of shares outstanding for the period was 200000 shares. The average number of shares under outstanding options, at an option price of $30 per share is 11700 shares. The average market price of the common stock during the year was $36. What should Bramble Corp. report for diluted earnings per share for the year ended 2021?
Venzuela Company's net income for 2020 is $50,000. The only potentially dilutive securities outstanding were 1,000 options issued during 2019, each exercisable for one share at $6. None has been exercised, and 10,000 shares of common were outstanding during 2020. The average market price of Venzuela's stock during 2020 was $20. Instructions a. Compute diluted earnings per share. (Round to nearest cent.) b. Assume the same facts as those assumed for part (a), except that the 1,000 options were issued on October 1, 2020 (rather than in 2019). The average market price during the last 3 months of 2020 was $20.

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