# Earnings per Share Assignment

3. Prepare entries to record the following: a. Issued 1,000 shares of \$15 par common stock at \$54 for cash. If an amount box does not require an entry, leave it blank. b. Issued 1,400 shares of no-par common stock in exchange for equipment with a fair market price of \$24,000.

If an amount box does not require an entry, leave it blank. c. Purchased 100 shares of treasury stock at \$26. If an amount box does not require an entry, leave it blank. d. Sold 100 shares of treasury stock purchased in (c) at \$29. If an amount box does not require an entry, leave it blank. Financial statement data for this year and last year for Hanscombe Corp, are as follows: Current Year Last Year Net income \$4,988,000 \$5,600,500 Preferred dividends 60,000 60,000 12. An average number of common shares outstanding Calculate earnings per share for each year. Round your answers to two decimal places 125,000 110,000 Current Year Last Year Earnings per Share a LL 19. Texas Inc. has 5,506 shares of 7% , \$100 par value cumulative preferred stock and 83.725 shares of \$1 par value common stock outstanding at December 31. What is the annual dividend on the preferred stock? a.\$70.00 per share b.\$38,542 in total c.\$5,506 in total d.\$5,861 in total. .

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