Net income Preferred Dividends Shares at Jan 1 New Shares % of Year for New Shares Adjusted new shares Earnings per share Net income Preferred Dividends Shares at Jan 1 Retired shares COMPANY A Earnings Per Share ($ in millions, except per share amounts) % of year for retired shares Adjusted retired shares Stock split factor Earnings per share Net income Preferred Dividends Shares at Jan 1 New Shares % of Year for New Shares Adjusted new shares Stock dividend factor Earnings per share 2019 $ 290.00 (1) $289.00 income available to common shareholders 55 9 1-Jul 50% 4.50 59.50 Fill in the yellow cells only. Be sure to $ 4.86 4.857143 $ 4.86 EPS use cell referencing correctly. 2020 $ 380.00 (1) 1-Apr 1.5 1-Aug 2021 $ 412.00 (2) Balance at Jan. 1, 2019 Sale of preferred shares Sale of common shares, 7/1 Cash dividend, preferred Cash dividend, common ¡Net income Balance at Dec. 31, 2019 Retirement of common shares, 4/1 Cash dividend, preferred COMPANY A Statements of Shareholders' Equity For the Years Ended December 31, 2019, 2020, and 2021 ($ in millions) Cash dividend, common 3-for-2 split as common stock dividend 8/1 Net income Balance at Dec. 31, 2020 10% common stock dividend, 5/1 Sale of common shares, 9/1 Cash dividend, preferred Cash dividend, common Net income Balance at Dec. 31, 2021 Total Preferred Common Additional Share- Stock, $10 Stock, $1 Paid-in Retained holders' par par Capital Earnings Equity 55 495 1,878 2,428 10 470 480 9 81 90 (1) (1) (16) (16) 290 290 10 64 1,046 2,151 3,271 (4) (36) (20) (60) (1) (1) (20) (20) 30 (30) 380 380 10 90 980 2,490 3,570 13 9 90 (99) 31 34 (2) (2) (22) (22) 412 412 10 102 1,101 2,779 3,992

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 55E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...

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Question

The comparative statements of shareholders' equity for Company A are shown below. They follow the fiscal years ending December 31, 2019, 2020, and 2021.

Using the statements as the guide, compute earnings per share (EPS) as they would have appeared on the income statements for:
December 31, 2019
December 31, 2020
December 31, 2021

No potential common shares were outstanding during any of the periods shown above.

COMPANY A
Statements of Shareholders' Equity
For the Years Ended December 31, 2019, 2020, and 2021
($ in millions)

					Total
	Preferred	Common	Additional		Share-
	Stock, $10	Stock, $1	Paid-in	Retained	holders'
	par	par	Capital	Earnings	Equity
Balance at Jan. 1, 2019		55	495	1,878	2,428
Sale of preferred shares	10		470		480
Sale of common shares, 7/1		9	81		90
Cash dividend, preferred				(1)	(1)
Cash dividend, common				(16)	(16)
Net income				290	290
Balance at Dec. 31, 2019	10	64	1,046	2,151	3,271

Retirement of common shares, 4/1		(4)	(36)	(20)	(60)
Cash dividend, preferred				(1)	(1)
Cash dividend, common				(20)	(20)
3-for-2 split as common stock dividend 8/1		30	(30)		-
Net income				380	380
Balance at Dec. 31, 2020	10	90	980	2,490	3,570

10% common stock dividend, 5/1		9	90	(99)	-
Sale of common shares, 9/1		3	31		34
Cash dividend, preferred				(2)	(2)
Cash dividend, common				(22)	(22)
Net income				412	412
Balance at Dec. 31, 2021	10	102	1,101	2,779	3,992