Stanko Company reported $752.4 million in net income in 2024. On January 1, 2024, the company had 400 million shares of common stock outstanding. On March 1, 2024, 24 million new shares of common stock were sold for cash. On June 1, 2024, the company's common stock split 2 for 1. On July 1, 2024, 8 million shares were reacquired as treasury stock. 1. Compute Stanko’s basic earnings per share for the year ended December 31, 2024.
Stanko Company reported $752.4 million in net income in 2024. On January 1, 2024, the company had 400 million shares of common stock outstanding. On March 1, 2024, 24 million new shares of common stock were sold for cash. On June 1, 2024, the company's common stock split 2 for 1. On July 1, 2024, 8 million shares were reacquired as treasury stock. 1. Compute Stanko’s basic earnings per share for the year ended December 31, 2024.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 18E: Monona Company reported net income of 29,975 for 2019. During all of 2019, Monona had 1,000 shares...
Related questions
Question
Stanko Company reported $752.4 million in net income in 2024. On January 1, 2024, the company had 400 million shares of common stock outstanding. On March 1, 2024, 24 million new shares of common stock were sold for cash. On June 1, 2024, the company's common stock split 2 for 1. On July 1, 2024, 8 million shares were reacquired as
1. Compute Stanko’s basic earnings per share for the year ended December 31, 2024.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning