On december 312010 dow steel corporation had 600000 shares

Reference no: EM13598613

On December 31,2010, Dow Steel Corporation had 600,000 shares of common stock and 300,000 shares of 8%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow issued a 4% common stock dividend on May 15 and paid cash dividends of $400,000 and $75,000 to common and preferred shareholders, respectively, on December 15,2011.On February 28,2011, Dow sold 60,000 common shares. In keeping with its long-term share repurchase plan, 2,000 shares were retired on July 1. Dow's net income for the year ended December 31,2011, was $2,100,000. The income tax rate is 40%.

Required:Compute Dow's earnings per share for the year ended December 31,2011.

Reference no: EM13598613

Questions Cloud

Healthy hound inc makes two lines of dog food 1 basic : healthy hound inc. makes two lines of dog food 1 basic chunks and 2 custom cuts. the basic chunks line is a dry food

Nutri labs inc leased a protein analyzer to werner chemical : nutri labs inc. leased a protein analyzer to werner chemical inc. on september 30 2009. nutralabs manufactured the

On january 1 2010 valuation allowance for : on january 1 2010 valuation allowance for available-for-sale securities has a credit balance of 3400. on december 31

In 2010 eugene company issue 200000 of bonds for 189640 if : in 2010 eugene company issue 200000 of bonds for 189640. if the face rate of interest was 8 and the effective rate of

On december 312010 dow steel corporation had 600000 shares : on december 312010 dow steel corporation had 600000 shares of common stock and 300000 shares of 8 noncumulative

Isaac inc uses straight-line depreciation for its equipment : isaac inc. uses straight-line depreciation for its equipment with an estimated useful life of 10 years and zero

A guide to outsourcing overseas february 11th 2011 in these : read the below article and answer the following questions...a what are the positives of overseas outsourcing?b what are

Gregorys purchased a 25000 truck for catering from its : gregorys purchased a 25000 truck for catering from its restaurant. it made a down payment of one-fourth of the price.

A disgruntled employee is suing madison company legal : 1. during december madison company sold 4100 units of a product that carries a 60-day warranty. december sales for this

User Account

All Pages