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What should be crane earnings per common share

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Reference no: EM133073092

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Q1. The following information is available for Sheridan Company:

January 1, 2021 Shares outstanding 4030000

April 1, 2021 Shares issued 634000

July 1, 2021 Treasury shares purchased 344000

October 1, 2021 Shares issued in a 100% stock dividend 4320000

What the number of shares to be used in computing earnings per common share for 2021?

a. 8988600.

b. 8707000.

c. 8667000.

d. 5407000.

Q2. Crane Company had 291000 shares of common stock issued and outstanding at December 31, 2020. No common stock was issued during 2021. On January 1, 2021, Crane issued 206000 shares of nonconvertible preferred stock. During 2021, Crane declared and paid $98000 cash dividends on the common stock and $85000 on the preferred stock. Net income for the year ended December 31, 2021 was $625000. What should be Crane's 2021 earnings per common share?

a. $1.81

b. $1.52

c. $2.15

d. $1.86

Reference no: EM133073092

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