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Sunland Company had the following information in its financial statements for the years ended 2017 and...
Layne Corporation had the following information in its financial statements for the years ended 2014 and...
Layne Corporation had the following information in its financial statements for the years ended 2014 and 2015: Cash dividends for the year 2015 $ 12,000 Net income for the year ended 2015 115,000 Market price of stock, 12/31/14 10 Market price of stock, 12/31/15 12 Common stockholders’ equity, 12/31/14 1,600,000 Common stockholders’ equity, 12/31/15 1,980,000 Outstanding shares, 12/31/15 180,000 Preferred dividends for the year ended 2015 15,000 What is the payout ratio for Layne Corporation for the year ended 2015?...
Layne Corporation had the following information in its financial statements for the years ended 2014 and 2015: Cash div...
Layne Corporation had the following information in its financial statements for the years ended 2014 and 2015: Cash dividends for the year 2015 $ 10,000 Net income for the year ended 2015 83,000 Market price of stock, 12/31/14 10 Market price of stock, 12/31/15 12 Common stockholders’ equity, 12/31/14 1,600,000 Common stockholders’ equity, 12/31/15 1,785,600 Outstanding shares, 12/31/15 180,000 Preferred dividends for the year ended 2015 15,000 What is the book value per share for Layne Corporation for the year...
Here are incomplete financial statements for Sunland Company. Calculate the missing amounts. SUNLAND COMPANY Balance Sheet...
Here are incomplete financial statements for Sunland Company. Calculate the missing amounts. SUNLAND COMPANY Balance Sheet Assets Cash $29,300 Supplies (a) Equipment (net) 64,600 Total assets Liabilities and Stockholders' Equity Liabilities Notes payable $22,300 Stockholders' Equity Common stock 39,000 Retained earnings 9740 (c) Total liabilities and stockholders' equity $ | (d) Notes payable $22,300 Stockholders' Equity Common stock 39,000 Retained earnings 9740 (c) Total liabilities and stockholders' equity $ SUNLAND COMPANY Income Statement Revenues $51,500 Depreciation expense Salaries and wages...
The following financial information is for Sunland Company. Sunland Company Balance Sheets December 31 2020 2019...
The following financial information is for Sunland Company. Sunland Company Balance Sheets December 31 2020 2019 ssets Cash Debt investments (short-term) Accounts receivable Inventory Prepaid expenses Land Building and equipment (net) Total assets Liabilities and Stockholders' Equity Notes payable Accounts payable Accrued liabilities Bonds payable, due 2023 Common stock, $10 par Retained earnings Total liabilities and stockholders' equity $ 70,000 65,000 40,000 90,000 237,000 168,000 27,000 134,000 134,000 263,000 186,000 $891,000 $710,000 51,000 109,000 27,000 $169,000 $104,000 53,000 39,000 250,000...
Comparative balance sheets for Sunland Company are presented as follows. Sunland Company Comparative Balance Sheets December...
Comparative balance sheets for Sunland Company are presented as follows. Sunland Company Comparative Balance Sheets December 31 Assets 2019 Cash $72,750 Accounts receivable 84,650 Inventory 180,300 Land 75,150 Equipment 249.800 Accumulated depreciation equipment (66,300) Total $596,350 Liabilities and Stockholders' Equity Accounts payable $33.800 Bonds payable 150,100 Common stock ($1 par) 214,300 Retained earnings 198,150 Total $596,350 2018 $21,600 76,600 188.900 101.100 199.700 (42,500) $545,400 $47,850 200,300 164.800 132,450 $545,400 Additional information: 1. Net income for 2019 was $135,300. 2. Cash...
This financial Information is available for Sunland Corporation. Average common stockholders' equity Dividends paid to common...
This financial Information is available for Sunland Corporation. Average common stockholders' equity Dividends paid to common stockholders Dividends paid to preferred stockholders Net Income Market price of common stock 2020 $1,755,000 84,000 22,000 286,500 21 2019 $2,100,000 72,000 22,000 243,000 The weighted average number of shares of common stock outstanding was 176,500 for 2019 and 147,500 for 2020. Calculate earnings per share and return on common stockholders' equity for 2020 and 2019. (Round answers to 2 decimal places, e.g. 10.50%...
The comparative statements of Sunland Company are presented here. SUNLAND COMPANY Income Statements For the Years...
The comparative statements of Sunland Company are presented here. SUNLAND COMPANY Income Statements For the Years Ended December 31 2022 2021 Net sales Cost of goods sold $2,178,400 $2,030,000 1,207,000 1,187,080 971,400 842,920 Gross profit Selling and administrative expenses 590,000 565,220 Income from operations 381,400 277,700 Other expenses and losses Interest expense 25.960 23,600 Income before income taxes 355,440 254,100 Income tax expense 106,632 76,230 Net income $ 248,808 $177,870 SUNLAND COMPANY Balance Sheets December 31 Assets 2022 2021 Current...
"Sunland Company had net income for Year 18 of $611000. The average number of shares outstanding...
"Sunland Company had net income for Year 18 of $611000. The average number of shares outstanding for the period was 209000 shares. The average number of shares under outstanding options, at an option price of $31 per share is 12600 shares. The average market price of the common stock during the year was $36. What should Sunland Company report for diluted earnings per share for the year ended Year 18? (rounded to the nearest penny)" $2.76 $2.78 $2.90 $2.92
The comparative statements of Sunland Company are presented here. SUNLAND COMPANY Income Statements For the Years...
The comparative statements of Sunland Company are presented here. SUNLAND COMPANY Income Statements For the Years Ended December 31 2022 2021 Net sales Cost of goods sold $2,178,400 $2,030,000 1,207,000 1,187,080 971,400 842,920 Gross profit Selling and administrative expenses 590,000 565,220 Income from operations 381,400 277,700 Other expenses and losses Interest expense 25.960 23,600 Income before income taxes 355,440 254,100 Income tax expense 106,632 76,230 Net income $ 248,808 $177,870 SUNLAND COMPANY Balance Sheets December 31 Assets 2022 2021 Current...
P14-2A The stockholders' equity accounts of Karp Company at January 1, 2017, are as follows. Preferred...
P14-2A The stockholders' equity accounts of Karp Company at January 1, 2017, are as follows. Preferred Stock, 6%, $50 par $600,000 Common Stock, $5 par 800,000 Paid-in Capital in Excess of Par-Preferred Stock 200,000 Paid-in Capital in Excess of Par—Common Stock 300,000 Retained Earnings 800,000 There were no dividends in arrears on preferred stock. During 2017, the company had the following transactions and events. July 1 Declared a $0.60 cash dividend per share on common stock. Aug. 1 Discovered $25,000...
Here are incomplete financial statements for Sunland Company. Calculate the missing amounts. SUNLAND COMPANY Balance Sheet Assets Cash $29,300 Supplies (a) Equipment (net) 64,600 Total assets Liabilities and Stockholders' Equity Liabilities Notes payable $22,300 Stockholders' Equity Common stock 39,000 Retained earnings 9740 (c) Total liabilities and stockholders' equity $ | (d) Notes payable $22,300 Stockholders' Equity Common stock 39,000 Retained earnings 9740 (c) Total liabilities and stockholders' equity $ SUNLAND COMPANY Income Statement Revenues $51,500 Depreciation expense Salaries and wages...
The following financial information is for Sunland Company. Sunland Company Balance Sheets December 31 2020 2019 ssets Cash Debt investments (short-term) Accounts receivable Inventory Prepaid expenses Land Building and equipment (net) Total assets Liabilities and Stockholders' Equity Notes payable Accounts payable Accrued liabilities Bonds payable, due 2023 Common stock, $10 par Retained earnings Total liabilities and stockholders' equity $ 70,000 65,000 40,000 90,000 237,000 168,000 27,000 134,000 134,000 263,000 186,000 $891,000 $710,000 51,000 109,000 27,000 $169,000 $104,000 53,000 39,000 250,000...
Comparative balance sheets for Sunland Company are presented as follows. Sunland Company Comparative Balance Sheets December 31 Assets 2019 Cash $72,750 Accounts receivable 84,650 Inventory 180,300 Land 75,150 Equipment 249.800 Accumulated depreciation equipment (66,300) Total $596,350 Liabilities and Stockholders' Equity Accounts payable $33.800 Bonds payable 150,100 Common stock ($1 par) 214,300 Retained earnings 198,150 Total $596,350 2018 $21,600 76,600 188.900 101.100 199.700 (42,500) $545,400 $47,850 200,300 164.800 132,450 $545,400 Additional information: 1. Net income for 2019 was $135,300. 2. Cash...
This financial Information is available for Sunland Corporation. Average common stockholders' equity Dividends paid to common stockholders Dividends paid to preferred stockholders Net Income Market price of common stock 2020 $1,755,000 84,000 22,000 286,500 21 2019 $2,100,000 72,000 22,000 243,000 The weighted average number of shares of common stock outstanding was 176,500 for 2019 and 147,500 for 2020. Calculate earnings per share and return on common stockholders' equity for 2020 and 2019. (Round answers to 2 decimal places, e.g. 10.50%...
The comparative statements of Sunland Company are presented here. SUNLAND COMPANY Income Statements For the Years Ended December 31 2022 2021 Net sales Cost of goods sold $2,178,400 $2,030,000 1,207,000 1,187,080 971,400 842,920 Gross profit Selling and administrative expenses 590,000 565,220 Income from operations 381,400 277,700 Other expenses and losses Interest expense 25.960 23,600 Income before income taxes 355,440 254,100 Income tax expense 106,632 76,230 Net income $ 248,808 $177,870 SUNLAND COMPANY Balance Sheets December 31 Assets 2022 2021 Current...
The comparative statements of Sunland Company are presented here. SUNLAND COMPANY Income Statements For the Years Ended December 31 2022 2021 Net sales Cost of goods sold $2,178,400 $2,030,000 1,207,000 1,187,080 971,400 842,920 Gross profit Selling and administrative expenses 590,000 565,220 Income from operations 381,400 277,700 Other expenses and losses Interest expense 25.960 23,600 Income before income taxes 355,440 254,100 Income tax expense 106,632 76,230 Net income $ 248,808 $177,870 SUNLAND COMPANY Balance Sheets December 31 Assets 2022 2021 Current...
P14-2A The stockholders' equity accounts of Karp Company at January 1, 2017, are as follows. Preferred Stock, 6%, $50 par $600,000 Common Stock, $5 par 800,000 Paid-in Capital in Excess of Par-Preferred Stock 200,000 Paid-in Capital in Excess of Par—Common Stock 300,000 Retained Earnings 800,000 There were no dividends in arrears on preferred stock. During 2017, the company had the following transactions and events. July 1 Declared a $0.60 cash dividend per share on common stock. Aug. 1 Discovered $25,000...
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