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Accounting | Accounting homework help

Assume the same information for Hedley Corporation as Hedley Corporation had a 2017 net income of $1.4 million. During 2017, Hedley paid a dividend of $5 per share on 100,000 preferred shares. Hedley also had 220,000 common shares outstanding during the year.

Calculate Hedley’s 2017 earnings per share.


EB Corp. reports net income of $40,000 and the number of shares of common stock outstanding is 10,000 shares. Preferred dividends paid was $5,000. Calculate the earnings per share of common stock.


Maxwell Corp. is coming to the market with a new offering of 300,000 shares of stock at $25 to the public. Maxwell will receive $22 per share. The firm has 1 million shares outstanding and earnings of $6 million. What is the amount of dilution in earnings per share?


The following information is available for Sunland Corporation for the year ended December 31, 2020:

Sales revenue $840,000
Other revenues and gains $91,000
Operating expenses $101,000
Cost of goods sold $466,000
Other expenses and losses $30,500
Preferred stock dividends $40,950

The company’s tax rate was 30%, and it had 70,000 shares outstanding during the entire year.

Prepare a corporate income statement.

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