Prepare the issuer's journal entry for each of the following separate transactions.
a. On March 1, Atlantic Co. issues 52,500 shares of $4 par value common stock for $327,500 cash.
b. On April 1, OP Co. issues no-par value common stock for $90,000 cash.
c. On April 6, MPG issues 4,000 shares of $20 par value common stock for $59,000 of inventory, $185,000 of machinery, and acceptance of a $95,000 note payable.
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Ответ:
$3.48
Explanation:
Net income ÷Shares of common stock outstanding + Preferred stock convertible shares of common stock.
Net income 6,800,000
Shares of common stock outstanding 1,200,000
Preferred stock convertible 750,000
Hence:
$6,800,000/ ($1,200,000 + $750,000)
=$6,800,000/$1,950,000
=$3.48
Therefore the diluted earnings per share for 2021 is $3.48