At December 31, 2015, Albrecht Corporation had outstanding 348,000 shares of com

Question

At December 31, 2015, Albrecht Corporation had outstanding 348,000 shares of common stock and 18,000 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 $1,391,000.

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.)

At December 31, 2015, Albrecht Corporation had outstanding 348,000 shares of common stock and 18,000 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 $1,391,000.

Explanation / Answer

Calculate Albrecht's net loss per share for the year ended December 31, 2016.

Net loss = -1391000

Outstanding share = 348000+12000*7/12) = 355000 Shares

Net loss per share = -1391000/355000 = -3.92 per share

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