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Homework answers / question archive / Presented below is information related to Starr Company

Presented below is information related to Starr Company


Presented below is information related to Starr Company.

1.Net Income [including a discontinued operations gain (net of tax) of $112,000]$318,5002.Capital Structurea.Cumulative 5% preferred stock, $100 par, 6,100 shares issued and outstanding$610,000b.$10 par common stock, 74,000 shares outstanding on January 1. On April 1, 40,000 shares were issued for cash. On October 1, 16,000 shares were purchased and retired.$1,000,000c.On January 2 of the current year, Starr purchased Oslo Corporation. One of the terms of the purchase was that if Oslo net income for the following year is $236,000 or more, 60,000 additional shares would be issued to Oslo stockholders next year. Oslo's net income for the current year was $2,600,000.3.Other Informationa.Average market price per share of common stock during entire year$30b.Income tax rate30%

part 1

what is the Computed weighted average shares outstanding.


part 2

what is the Computed earnings per share for the current year

Basic earnings per share

Diluted earnings per share


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