Ute Co . had the following capital structure during 2004 and 2005 : Preferred stock is not considered a common stock equivalent . Ute reported net income of $ 500,000 for the year ended December 31 , 2005 . Ute paid no preferred dividends during 2004 and paid $ 16,000 in preferred dividends during 2005 . In its December 31 , 2005 , income statement , what amount should Ute report as earnings per share ?
Question 12
A manufacturer of household appliances may incur a loss due to the discovery of a defect in one of its products . The occurrence of the loss is reasonably possible and the resulting costs can be reasonably estimated . This possible loss should be
Question 13
A hedge to offset the risk of loss on a recognized asset or liability is which of the following types of hedge ?
Question 14
Envoy Co . manufactures and sells household products . Envoy experienced losses associated with its small appliance group . Operations and cash flows for this group can be clearly distinguished from the rest of Envoy ' s operations . Envoy plans to sell the small appliance group with its operations . What is the earliest point at which Envoy should report the small appliance group as a discontinued operation ?
Question 15
An extraordinary gain should be reported as a direct increase to which of the following ?
Question 16
Poe Co . had 300,000 shares of common stock issued and outstanding at December 31 , 2004 . No common stock was issued during 2005 . On