Ans. | INCOME STATEMENT | |||
Particulars | Amount | |||
Sales | 667000 | |||
Less: Costs | 329000 | |||
Income before depreciation, interest and taxes | 338000 | |||
Less: Depreciation expenses | 73000 | |||
Operating income | 265000 | |||
Less: Interest expenses | 46500 | |||
Income before tax | 218500 | |||
Less: Tax @ 25% | 54625 | |||
Net income | 163875 | |||
a | Earning per share = Net income / Common stock outstanding | |||
163875 / 27200 | ||||
$6.02 | per share | |||
b | Dividend per share = Dividend paid / Common stock outstanding | |||
47000 / 27200 | ||||
$1.73 | per share | |||
Griffins Goat Farm, Inc., has sales of $667,000, costs of $329,000, depreciation expense of $73,000, interest...
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