For 2010, Stoneland Corporation reported a net income of $24,000; net sales of $400,000; and average shares outstanding of 6,000. There were $6,000 preferred stock dividends. What were the 2010 earnings per share?
Information from the financial statements of Henderson-Niles Industries included the following on December 31, 2021:
| Common shares outstanding throughout the year | $100 million |
| Convertible preferred shares (convertible into 32 million shares of common) | 60 million |
| Convertible 8% bonds (convertible into 13.5 million shares of common) | $900 million |
Henderson-Niles’s net income for the year ended December 31, 2021, is $520 million. The income tax rate is 25%. Henderson-Niles paid dividends of $2 per share on its preferred stock in 2021.
Required:
Compute basic and diluted earnings per share for the year ended December 31, 2021.
On December 31, 2017, and 2018, Funk & Noble Corporation had outstanding 820 million shares of common stock and 2 million shares of 8%, $100 par value cumulative preferred stock. No dividends were declared on either the preferred or common stock in 2017 or 2018. Net income for 2018 was $426 million. The income tax rate is 40%.
Calculate earnings per share for the year ended December 31, 2018.
