ACC 304 All Assignments ACC 304 All Assignments | Page 64

a.)Determine the weighted-average number of shares outstanding as of
December 31, 2015.
b.)Assume that Wilke Corp. earned net income of $3,315,000 during
2015. In addition, it had 117,000 shares of 9%, $102 par
nonconvertible, noncumulative preferred stock outstanding for the
entire year. Because of liquidity considerations, however, the company
did not declare and pay a preferred dividend in 2015. Compute
earnings per share for 2015, using the weighted-average number of
shares determined in part (a
c.)Assume the same facts as in part (b), except that the preferred stock
was cumulative. Compute earnings per share for 2015. (Round answer
to 2 decimal places, e.g. $2.55.)
d.)Assume the same facts as in part (b), except that net income
included an extraordinary gain of $941,000 and a loss from
discontinued operations of $489,000. Both items are net of applicable
income taxes. Compute earnings per share for 2015. (Round answer to
2 decimal places, e.g. $2.55.)
8) Amy Dyken, controller at Fitzgerald Pharmaceutical Industries, a
public company, is currently preparing the calculation for basic and
diluted earnings per share and the related disclosure for Fitzgerald’s