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Calculate Basic And Diluted EPS Practice Test
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Q1
Under FASB ASC 260, Bravo Inc. reported net income of $5,000,000 for the year ended December 31, 20X5. Bravo has 100,000 shares of $100 par, 8% noncumulative preferred stock outstanding, and preferred dividends of $800,000 were declared for 20X5. Weighted-average common shares outstanding were 2,000,000. Calculate the basic EPS for 20X5.
Under FASB ASC 260, Bravo Inc. reported net income of $5,000,000 for the year ended December 31, 20X5. Bravo has 100,000 shares of $100 par, 8% noncumulative preferred stock outstanding, and preferred dividends of $800,000 were declared for 20X5. Weighted-average common shares outstanding were 2,000,000. Calculate the basic EPS for 20X5.