Reference no: EM132955229
On January 1st 2022, the Vadar Company had the following partial balance sheet:
Common stock 1,000,000 shares authorized $1 par $800,000
Additional paid in capital Common stock $4,000,000
Preferred stock $100 par 5% ( cumulative nonparticipating) $1,000,000 There are no dividends in arrears
During 2022:
October 1st Vadar declared and paid $120,000 in dividends
December 31st Vadar reported income of $999,999
REQUIRED:
Problem A) Make the journal entries for: 1) on a per share basis, how much did the preferred stockholder receive? On a per share basis how much did the common stockholders get?
Problem B) the preferred stock is not convertible; determine the earnings per share (eps) of Vadar
Problem C) Each share of the preferred stock can be converted into 10 shares of common stock: determine the earnings per share (eps) of vadar
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