Business, 22.04.2020 00:42 mauri6381

Lucas Company reports net income of $5,125 for the year ended December 31, 2019, its first year of operations. On January 4, 2019, Lucas issued 9,000 shares of common stock. On August 2, 2019, it issued an additional 3,000 shares of stock, resulting in 12,000 shares outstanding at year-end. During 2020, Lucas earned net income of $16,400. It issued 2,000 additional shares of stock on March 3, 2020, and declared and issued a 2-for-1 stock split on November 3, 2020, resulting in 28,000 shares outstanding at year-end. During 2021, Lucas earned net income of $23,520. The only common stock transaction during 2021 was a 20% stock dividend issued on July 2, 2021.
1. Compute the basic earnings per share that would be disclosed in the 2019 annual report.
2. Compute the 2016 and 2020 comparative basic earnings per share that would be disclosed in the 2020 annual report.
3. Compute the 2016, 2017, and 2021 comparative basic earnings per share that would be disclosed in the 2021 annual report.

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 20:40

Maria am corporation uses the weighted-average method in its process costing system. the baking department is one of the processing departments in its strudel manufacturing facility. in june in the baking department, the cost of beginning work in process inventory was $4,880, the cost of ending work in process inventory was $1,150, and the cost added to production was $25,200. required: prepare a cost reconciliation report for the baking department for june.

Answers: 2

Answer

Business, 21.06.2019 21:00

The table shows the demand and supply schedules for magazines. complete the following sentences. the equilibrium price of a magazine is $ 4 and the equilibrium quantity is 150 magazines a week. price (dollars per magazine) quantity demanded quantity supplied (magazines per week) 3.00 160 138 3.50 155 144 4.00 150 150 4.50 145 156 5.00 140 161 now a fall in the price of a newspaper decreases the quantity demanded by 11 magazines a week at each price. at the original equilibrium price, a occurs. to return to equilibrium, the price of a magazine a. surplus; rises b. shortage; rises c. shortage; falls d. surplus; falls as the market returns to equilibrium, the quantity demanded and the quantity supplied a. decreases; increases b. decreases; decreases c. increases; decreases d. increases; increases the new equilibrium price is $ nothing a magazine.

Answers: 1

Answer

Business, 22.06.2019 00:30

Refers to the way we conduct ourselves

Answers: 2

Answer

Business, 22.06.2019 08:30

What is the equity method balance in the investment in lindman account at the end of 2018?

Answers: 2

Answer

You know the right answer?

Lucas Company reports net income of $5,125 for the year ended December 31, 2019, its first year of o...