At December 31, 2015, Albrecht Corporation had outstanding 273,000 shares of common stock and 20,000 shares of 9.5%, $100 par value cumulative, nonconvertible preferred stock. On May 31, 2016, Albrecht sold for cash 12,000 shares of its common stock. No cash dividends were declared for 2016. For the year ended December 31, 2016, Albrecht reported a net loss of $510,000 Required: Calculate Albrecht's net loss per share for the year ended December 31, 2016. (Enter your answers in thousands. Negative amounts should be indicated by a minus sign.) NumeratorDenominator 280,000 Net Loss per Share (2.50) $ (700,000)/
Show transcribed image textAt December 31, 2015, Albrecht Corporation had outstanding 273,000 shares of common stock and 20,000 shares of 9.5%, $100 par value cumulative, nonconvertible preferred stock. On May 31, 2016, Albrecht sold for cash 12,000 shares of its common stock. No cash dividends were declared for 2016. For the year ended December 31, 2016, Albrecht reported a net loss of $510,000 Required: Calculate Albrecht's net loss per share for the year ended December 31, 2016. (Enter your answers in thousands. Negative amounts should be indicated by a minus sign.) NumeratorDenominator 280,000 Net Loss per Share (2.50) $ (700,000)/
On February 28, 2016, Dow sold 54,000 common shares. In keepingwith its long-term share repurchase plan, 2,000 shares were retiredon July 1. Dow's net income for the year ended December 31, 2016,was $2,250,000. The income tax rate is 40%.
As part of an incentive compensation plan, Dow granted incentivestock options to division managers at December 31 of the currentand each of the previous two years. Each option permits its holderto buy one share of common stock at an exercise price equal tomarket value at the date of grant and can be exercised one yearfrom that date. Information concerning the number of optionsgranted and common share prices follows:
DateGranted
Options Granted
Share Price
(adjusted for the stock dividend)
December 31, 2014
10,000
$
12
December 31, 2015
5,000
$
21
December 31, 2016
8,500
$
20
The market priceof the common stock averaged $20 per share during 2016.
Required:
Compute Dow's earnings per share for the year ended December 31,2016. (Enter your answers in thousands.)