Blossom Corp. | ||
Income Statement | ||
For the year ending December 31, 2020 | ||
Sales revenue | $ 8,30,000 | |
Cost of goods sold | $ -4,69,000 | |
Gross Profit | $ 3,61,000 | |
Operating expenses | $ -1,05,000 | |
Operating Income | $ 2,56,000 | |
Other revenue and gains | $ 90,500 | |
Other expenses and losses | $ -30,000 | |
Income before tax | $ 3,16,500 | |
Income tax expense ($316500 X 25%) | $ -79,125 | |
Net Income / (loss) | $ 2,37,375 | |
Earnings per share | = | (Net Income - Preferred dividend) / Number of shares outstanding |
= | ($237375 - $40175) / 68000 | |
= | $ 2.90 |
Exercise 14-12a-b The following information is available for Blossom Corporation for the year ended December 31,...
The following information is available for Blossom Corporation for the year ended December 31, 2020: sales revenue $830,000, other revenues and gains $90,500, operating expenses $105,000, cost of goods sold $469,000, other expenses and losses $30,000, and preferred stock dividends $40,175. The company’s tax rate was 25%, and it had 68,000 shares outstanding during the entire year. Calculate earnings per share.
The following information is available for Oriole Cerporation for the year ended December 31, 2020: sales revenue $750,000, other revenues and gains $88,000, operating expenses $116,000, cost of goods sold $464.000, other expenses and losses $32,500, and preferred stock dividends $43,125. The company's tax rate was 25%, and it had 45,000 shares outstanding during the entire year Prepare a corporate Income statement. (List other revenues before other expenses.) ORIOLE CORPORATION Income Statement < < < < < < < Calculate...
he following information is available for Oriol Corporation for the year ended December 31, 2020: sales revenue $750,000, other revenues and gains $88,000, operating expenses 116,000, cost of goods sold $464,000, other expenses and losses $32,500, and preferred stock dividends $43,125. The company's tax rate was 25%, and it had 45,000 shares utstanding during the entire year repare a corporate income statement. (List other revenues before other expenses.) ORIOLE CORPORATION In State Calculate earnings per share. (Round answer to 2...
The following information is available for Oriole Corporation for the year ended December 31, 2020: sales revenue $815,000, other revenues and gains $94,000, operating expenses $117,000, cost of goods sold $460,000, other expenses and losses $34,500, and preferred stock dividends $34,125. The company’s tax rate was 35%, and it had 65,000 shares outstanding during the entire year. Prepare a corporate income statement. (List other revenues before other expenses.)
Q2. The following information is available for Kesley Corporation for the year ended December 31, 2016: Sales $700000; Other revenues and Gains $9000; operating expenses $20000; cost of goods sold S300000; other expenses and losses $4000; preferred stock dividend $10000. The company tax rate 25% and it had 25000 shares outstanding during the entire year. Required: c. Prepare a Income Statement (Marking Scheme: Computation- 8 Marks, Correct Marks 2 Marks) d. Calculate earnings per share (Marking Scheme Computation 4 Marks,...
The following information is available for Ivanhoe Corporation for the year ended December 31, 2020: sales revenue $770,000, other revenues and gains $91,500, operating expenses $109,000, cost of goods sold $470,000, other expenses and losses $34,000, and preferred stock dividends $31,850. The company’s tax rate was 30%, and it had 49,000 shares outstanding during the entire year. Prepare a corporate income statement.
The following information is avalable for Culumber Corporation for the year ended December 31, 2020: sales revenue $775.000, other revenues and gains 509,500, operating expenses $109.000, cost of goods so 400.000, other expenses and ses $31.000, and preferred stock dividends $35.525. The company tax rate was and it had 64.000 shares outstanding during the entire year Prepare a corporate income statement (List other revenues before there CULLUMBER CORPORATION
Exercise 14-16 This financial information is available for Crane Corporation. 2020 Average common stockholders' equity Dividends paid to common stockholders Dividends paid to preferred stockholders Net income Market price of common stock $1,780,000 90,500 19,500 294,500 2019 $1,900,000 68,000 19,500 240,500 23 The weighted average number of shares of common stock outstanding was 175,500 for 2019 and 146,500 for 2020. Calculate earnings per share and return on common stockholders' equity for 2020 and 2019. (Round answers to 2 decimal places,...
Blossom, Inc. has the following data for the year ended December 31, 2020: Net sales Loss on disposal of discontinued operation Cost of goods sold Interest expense Selling expenses Administrative expenses Shares of capital stock outstanding, 10,000 Tax rate of 30% on all items $274,200 22,100 166,100 6,000 17,700 35,720 Prepare a multiple-step income statement for Blossom, Inc. for the year ended December 31, 2020. (Round earnings per share answers to 2 decimal places, eg. 5.25.) Blossom Inc. Income Statement...
At December 31, 2019, Blossom Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 107,918 shares $10,791,800 Common stock, $5 par, 4,099,360 shares 20,496,800 During 2020, Blossom did not issue any additional common stock. The following also occurred during 2020. $24,065,000 Income from continuing operations before taxes Discontinued operations (loss before taxes) $3,456,200 Preferred dividends declared $1,079,180 $2,317,300 Common dividends declared Effective tax rate 35% Compute earnings per share data as it should appear in the 2020...