he following balances and amounts were taken from the financial statements of Ortiz, Inc. The data...
he following balances and amounts were taken from the financial statements of Ortiz, Inc. The data are presented in alphabetical order. Accounts payable $35,000 Cash provided by operations $90,000 Accounts receivable 37,500 Net income 36,000 Average common shares 20,000 Salaries and wages payable 8,000 Average current liabilities 110,000 Stockholders’ equity 240,000 Average and total assets 600,000 Total current assets 300,000 Average total liabilities 320,000 Total current liabilities 120,000 Cash 100,000 How much is earnings per share? $1.80 $0.56 $0.15 $1.20 Click if you would like to Show Work for this question: Open Show Work
Homework Answers
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Earnings per share = Net income/Average common shares = 36,000/20,000 = 1.80 Comment if you face any issues |
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he following balances and amounts were taken from the financial
statements of Ortiz, Inc. The data...
The following data are taken from the financial statements of Sandhill Co. as of the end...
The following data are taken from the financial statements of Sandhill Co. as of the end of the year 2022. The data are in alphabetical order. $54,280 Accounts payable Accounts receivable Cash $35,000 74,000 Net income Other current liabilities Salaries and wages payable Total assets Total liabilities 16,300 5,700 25,180 260,000 Gross profit Income before income taxes 165,000 60,100 171,600 Additional information: The average common shares outstanding during the year was 46,000. Compute the following: (Round current ratio and earnings...
The following data are taken from the financial statements of Rosen, Inc. as of the end...
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The following data are taken from the financial statements of Wildhorse Co.. The data are in...
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Exercise 1 Chapter 4 The following data are taken from the financial statements of Keanan Company...
Exercise 1 Chapter 4 The following data are taken from the financial statements of Keanan Company as of the end of the year 2017. The data are in alphabetical order. Accounts Payable........... $28,000 Profit ....... .................. 48,000 Accounts Receivable ......... 66,000 Supplies ...................... 8,600 Cash 54,000 Total assets ................. 250,000 Other current liabilities ....... 17,000 Total liabilities ................ 200,000 Prepaid Insurance........... 2,000 Wages payable .. 5,000 Instructions a) Calculate Keanan Company's working capital, current ratio, and acid-test ratio. b) Explain...
Six Measures of Solvency or Profitability The following data were taken from the financial statements of...
Six Measures of Solvency or Profitability The following data were taken from the financial statements of Gates Inc. for the current fiscal year. Property, plant, and equipment (net) $3,200,000 Liabilities: Current liabilities $1,000,000 Note payable, 6%, due in 15 years 2,000,000 Total liabilities $3,000,000 Stockholders’ equity: Preferred $10 stock, $100 par (no change during year) $1,000,000 Common stock, $10 par (no change during year) 2,000,000 Retained earnings: Balance, beginning of year $1,570,000 Net income 930,000 Preferred dividends (100,000) Common dividends...
The following data were taken from the balance sheet of Nilo Company at the end of...
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Your answer is partially correct. The following items were taken from the financial statements of Concord...
Your answer is partially correct. The following items were taken from the financial statements of Concord Company. (All amounts are in thousands.) $5,600 1,900 500 Long-term debt Prepaid insurance Equipment Stock investments (long-term) Debt investments (short-term) Notes payable (due in 2023) Cash $900 850 11,400 400 3,800 500 2,900 Accumulated depreciation-equipment Accounts payable Notes payable (due after 2023) Common stock Retained earnings Accounts receivable Inventory 9,750 3,600 2,100 1,300 Prepare a classified balance sheet in good form as of December...
Suppose the following items were taken from the 2022 financial statements of Texas Instruments, Inc. (All...
Suppose the following items were taken from the 2022 financial statements of Texas Instruments, Inc. (All dollars are in millions.) Common stock $2,826 Accumulated depreciation-equipment $3,547 Prepaid rent 164 Accounts payable 1.459 Equipment 6,705 Patents 2,210 Stock investments (long-term) 637 Notes payable (long-term) 810 Debt investments (short-term) 1,743 Retained earnings 6,896 Income taxes payable 128 Accounts receivable 1,823 Cash 1,182 Inventory 1,202 Prepare a classified balance sheet in good form as of December 31, 2022. (List Current Assets in order...
he following data were taken from the balance sheet of Nilo Company at the end of...
he following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $524,400 $436,800 Marketable securities 607,200 491,400 Accounts and notes receivable (net) 248,400 163,800 Inventories 316,800 95,200 Prepaid expenses 163,200 60,800 Total current assets $1,860,000 $1,248,000 Current liabilities: Accounts and notes payable (short-term) $348,000 $364,000 Accrued liabilities 252,000 156,000 Total current liabilities $600,000 $520,000 a. Determine for each year (1) the working capital, (2)...
The following data are taken from the financial statements of Rosen, Inc. as of the end...
The following data are taken from the financial statements of Rosen, Inc. as of the end of the year 2016. calculate working capital. Accounts payable $ 28,000 Net income $ 48,000 Accounts receivable 66,000 Total liabilities 175,000 Cash 24,000 Salaries and wages payable 5,000 Inventory 160,000 Total assets 250,000
The following data are taken from the financial statements of Sandhill Co. as of the end of the year 2022. The data are in alphabetical order. $54,280 Accounts payable Accounts receivable Cash $35,000 74,000 Net income Other current liabilities Salaries and wages payable Total assets Total liabilities 16,300 5,700 25,180 260,000 Gross profit Income before income taxes 165,000 60,100 171,600 Additional information: The average common shares outstanding during the year was 46,000. Compute the following: (Round current ratio and earnings...
The following data are taken from the financial statements of Rosen, Inc. as of the end of the year 2022. The data are in alphabetical order. Accounts payable Accounts receivable Cash Gross profit Income before income taxes $28,000 66,000 24,000 160,000 54,000 Net income Other current liabilities Salaries and wages payable Total assets Total liabilities $48,000 17,000 5,000 250,000 175,000 Additional information: The average common shares outstanding during the year was 40,000. Compute the following: (Round current ratio and earnings...
The following data are taken from the financial statements of Wildhorse Co.. The data are in alphabetical order. Accounts payable $27,800 Net sales $526,000 Accounts receivable 72,500 Other current liabilities 22,500 Average common shares out. 7,500 Cash 23,000 57,550 170,000 Salaries and wages payable Stockholders’equity Total assets 146,400 Gross profit 305,000 Net income 46,000 Compute the following: (Round current ratio to 1 decimal places, e.g. 1.5:1 and earnings per share to 2 decimal places, e.g. $2.51.) (a) Current ratio (b)...
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Your answer is partially correct. The following items were taken from the financial statements of Concord Company. (All amounts are in thousands.) $5,600 1,900 500 Long-term debt Prepaid insurance Equipment Stock investments (long-term) Debt investments (short-term) Notes payable (due in 2023) Cash $900 850 11,400 400 3,800 500 2,900 Accumulated depreciation-equipment Accounts payable Notes payable (due after 2023) Common stock Retained earnings Accounts receivable Inventory 9,750 3,600 2,100 1,300 Prepare a classified balance sheet in good form as of December...
Suppose the following items were taken from the 2022 financial statements of Texas Instruments, Inc. (All dollars are in millions.) Common stock $2,826 Accumulated depreciation-equipment $3,547 Prepaid rent 164 Accounts payable 1.459 Equipment 6,705 Patents 2,210 Stock investments (long-term) 637 Notes payable (long-term) 810 Debt investments (short-term) 1,743 Retained earnings 6,896 Income taxes payable 128 Accounts receivable 1,823 Cash 1,182 Inventory 1,202 Prepare a classified balance sheet in good form as of December 31, 2022. (List Current Assets in order...
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