Homework Answers
a)Net income = Earnings before tax [1-Tax rate]
= 438000 [1- .21]
= 438000 * .79
= $ 346020
Earning per share =[Net income - preferred stock dividend ]/number of common shares outstanding
=[346020 - 63300]/ 161000
= 282720 / 161000
= $ 1.76 per share
b)
| Net income | 346020 | |
| less:Preferred dividend | 63300 | |
| Common stock dividend (161000*.76) | 122360 | |
| Total dividend | (185660) | |
| Addition to retained earning | 160360 |
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a.
Debt Ratio
0%
EBIT
$
Less: Interest
$
EBT
$
Taxes @40%
$
Net profit
$
Less: Preferred
dividends
$
Profits available to
common stockholders
$
# shares outstanding
$
EPS
$
Calculate the EPS below: (Round to the nearest dollar. Round
the EPS to the nearest cent.)
Debt Ratio
15%
EBIT
$
Less: Interest
$
EBT
$
Taxes @40%
$
Net profit
$
Less: Preferred
dividends
$
Profits available to
common stockholders
$
# shares outstanding
$...
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Debt Ratio
0%
EBIT
$
Less: Interest
$
EBT
$
Taxes @40%
$
Net profit
$
Less: Preferred
dividends
$
Profits available to
common stockholders
$
# shares outstanding
$
EPS
$
Calculate the EPS below: (Round to the nearest dollar. Round
the EPS to the nearest cent.)
Debt Ratio
15%
EBIT
$
Less: Interest
$
EBT
$
Taxes @40%
$
Net profit
$
Less: Preferred
dividends
$
Profits available to
common stockholders
$
# shares outstanding
$...
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