Selected data for Dalton Company for 2018 follows: Earnings (net income) $ 97,800 Preferred stock (13,200...
Selected data for Dalton Company for 2018 follows:
| Earnings (net income) | $ | 97,800 | |||||
| Preferred stock (13,200 shares at $25 par, 4%) | $ | 330,000 | |||||
| Common stock (45,000 shares no par, market value $28) | 255,000 | ||||||
| Retained earnings | 281,250 | ||||||
| $ | 866,250 | ||||||
| Less: Treasury stock | |||||||
| Preferred (1,800 shares) | $ | 27,000 | |||||
| Common (1,800 shares) | 12,000 | 39,000 | |||||
| Total stockholders’ equity | $ | 827,250 | |||||
What is the return on equity? ___________
Homework Answers
Net income = $97,800
Total stockholders’ equity = $827,250
Return on equity = Net income/Total stockholders’ equity
= 97,800/827,250
= 11.82% (rounded to two decimals)
Kindly give a positive rating if you are satisfied with the answer. Feel free to ask if you have any doubt. Thanks.
Add Answer to:
Selected data for Dalton Company for 2018 follows:
Earnings (net income)
$
97,800
Preferred stock (13,200...
The stockholders' equity section of Karp Company at January 1, 2018 follows: Preferred Stock, 6%, $50...
The stockholders' equity section of Karp Company at January 1, 2018 follows: Preferred Stock, 6%, $50 par, 12,000 shares Common Stock, $5 par, 160,000 shares Paid in Capital in excess of Par-Preferred Paid in Capitalin excess of Par Common Retained Earnings $600,000 $800,000 $200,000 $300,000 $800,000 During 2018, the company had the following transactions and events: 15-Jun Issued 10,000 shares of preferred stock at $70. 1-Jul Declared $70,000 of cash dividends to shareholders. 1-Sep Paid the cash dividend declared on...
Nautical has two classes of stock authorized: $10 par preferred, and $1 par value common. As of the beginning of 2018, 1...
Nautical has two classes of stock authorized: $10 par preferred,
and $1 par value common. As of the beginning of 2018, 125 shares of
preferred stock and 1,100 shares of common stock have been issued.
The following transactions affect stockholders’ equity during
2018:
March 1 Issue 1,100 additional shares of common stock for $11
per share.
April 1 Issue 175 additional shares of preferred stock for $21
per share.
June 1 Declare a cash dividend on both common and preferred...
The stockholders’ equity accounts of Castle Corporation on January 1, 2017, were as follows. Preferred Stock...
The stockholders’ equity accounts of Castle Corporation on January 1, 2017, were as follows. Preferred Stock (8%, $50 par, cumulative, 11,000 shares authorized) $ 425,000 Common Stock ($1 stated value, 1,950,000 shares authorized) 1,150,000 Paid-in Capital in Excess of Par—Preferred Stock 105,000 Paid-in Capital in Excess of Stated Value—Common Stock 1,450,000 Retained Earnings 1,850,000 Treasury Stock (10,500 common shares) 42,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders’ equity. Feb. 1 Issued 25,500 shares of...
Sandhill Company has two classes of capital stock outstanding: 7%, $100 par preferred and $2 par...
Sandhill Company has two classes of capital stock outstanding: 7%, $100 par preferred and $2 par common. At December 31, 2017, the following accounts were included in stockholders' equity. Preferred Stock, 40,000 shares Common stock. 800.000 shares Paid-in Capital in Excess of Par - Preferred Stock Paid-in Capital in Excess of Par - Common Stock Retained Earnings $4,000,000 1,600,000 240,000 19,200,000 12,900,000 The following transactions affected stockholders' equity during 2018. Jan. 1 - 500 shares of preferred stock issued at...
STEINER CORPORATION Partial Balance Sheet December 31, 2018 Stockholders’ equity 8% Preferred stock, $100 par value,...
STEINER CORPORATION Partial Balance Sheet December 31, 2018 Stockholders’ equity 8% Preferred stock, $100 par value, cumulative, 5,000 shares issued ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ$500,000 In excess of par value— preferred stock ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $280,000 Common stock, $5 par value, 440,000 shares issued ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ$2,200,000 In excess of par value—common stock ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $800,000 Total paid-in capital ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $3,780,000 Retained earnings ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $1,334,000 Total paid-in capital and retained earnings ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ$5,114,000 Less: Treasury stock (10,000 common shares) ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ($120,000) Total stockholders’ equity ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $4,994,000 On December 1, 2018, the...
The stockholders' equity section of Montel Company's balance sheet follows. points $ 100,000 Preferred stock-58 cumulative,...
The stockholders' equity section of Montel Company's balance sheet follows. points $ 100,000 Preferred stock-58 cumulative, $10 par value, 10,000 shares authorized, issued and outstanding Common stock-$5 par value, 380,000 shares authorized, 330,000 shares issued and outstanding Retained earnings Total stockholders' equity 946,000 935,000 $1,981,000 Determine the book value per share of the common stock. Answer is not complete. Choose Numerator: Stockholders equity applicable to common shares Book Value Per Common Share Choose Denominator: Number of common shares outstanding 330,000...
The stockholders’ equity accounts of Pronghorn Corp. on January 1, 2017, were as follows. Preferred Stock...
The stockholders’ equity accounts of Pronghorn Corp. on January 1, 2017, were as follows. Preferred Stock (6%, $100 par noncumulative, 4,250 shares authorized) $255,000 Common Stock ($3 stated value, 350,000 shares authorized) 875,000 Paid-in Capital in Excess of Par Value—Preferred Stock 12,750 Paid-in Capital in Excess of Stated Value—Common Stock 560,000 Retained Earnings 686,000 Treasury Stock (4,250 common shares) 34,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders’ equity. Feb. 1 Issued 5,440 shares...
The stockholders’ equity accounts of Pronghorn Corp. on January 1, 2017, were as follows. Preferred Stock...
The stockholders’ equity accounts of Pronghorn Corp. on January 1, 2017, were as follows. Preferred Stock (6%, $100 par noncumulative, 4,250 shares authorized) $255,000 Common Stock ($3 stated value, 350,000 shares authorized) 875,000 Paid-in Capital in Excess of Par Value—Preferred Stock 12,750 Paid-in Capital in Excess of Stated Value—Common Stock 560,000 Retained Earnings 686,000 Treasury Stock (4,250 common shares) 34,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders’ equity. Feb. 1 Issued 5,440 shares...
Dividends Per Share Windborn Company has 15,000 shares of cumulative preferred 2% stock, $100 par and...
Dividends Per Share Windborn Company has 15,000 shares of cumulative preferred 2% stock, $100 par and 50,000 shares of $15 par common stock. The following amounts were distributed as dividends: 20Y1 $75,000 12,000 20Y2 2013 90,000 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter 'o'. Preferred Stock (dividends per share) $ 0.2 x Common Stock (dividends per share) 20Y1 2092 20Y3 Reporting...
The stockholders’ equity accounts of Ayayai Corp. on January 1, 2022, were as follows. Preferred Stock...
The stockholders’ equity accounts of Ayayai Corp. on January 1,
2022, were as follows.
Preferred Stock (7%, $100 par noncumulative, 12,000 shares
authorized)
$720,000
Common Stock ($4 stated value, 720,000 shares authorized)
2,400,000
Paid-in Capital in Excess of Par Value—Preferred Stock
36,000
Paid-in Capital in Excess of Stated Value—Common Stock
1,152,000
Retained Earnings
1,651,200
Treasury Stock (12,000 common shares)
96,000
During 2022, the corporation had the following transactions and
events pertaining to its stockholders’ equity.
Feb.
1
Issued 12,000 shares...
The stockholders' equity section of Karp Company at January 1, 2018 follows: Preferred Stock, 6%, $50 par, 12,000 shares Common Stock, $5 par, 160,000 shares Paid in Capital in excess of Par-Preferred Paid in Capitalin excess of Par Common Retained Earnings $600,000 $800,000 $200,000 $300,000 $800,000 During 2018, the company had the following transactions and events: 15-Jun Issued 10,000 shares of preferred stock at $70. 1-Jul Declared $70,000 of cash dividends to shareholders. 1-Sep Paid the cash dividend declared on...
Nautical has two classes of stock authorized: $10 par preferred,
and $1 par value common. As of the beginning of 2018, 125 shares of
preferred stock and 1,100 shares of common stock have been issued.
The following transactions affect stockholders’ equity during
2018:
March 1 Issue 1,100 additional shares of common stock for $11
per share.
April 1 Issue 175 additional shares of preferred stock for $21
per share.
June 1 Declare a cash dividend on both common and preferred...
Sandhill Company has two classes of capital stock outstanding: 7%, $100 par preferred and $2 par common. At December 31, 2017, the following accounts were included in stockholders' equity. Preferred Stock, 40,000 shares Common stock. 800.000 shares Paid-in Capital in Excess of Par - Preferred Stock Paid-in Capital in Excess of Par - Common Stock Retained Earnings $4,000,000 1,600,000 240,000 19,200,000 12,900,000 The following transactions affected stockholders' equity during 2018. Jan. 1 - 500 shares of preferred stock issued at...
The stockholders' equity section of Montel Company's balance sheet follows. points $ 100,000 Preferred stock-58 cumulative, $10 par value, 10,000 shares authorized, issued and outstanding Common stock-$5 par value, 380,000 shares authorized, 330,000 shares issued and outstanding Retained earnings Total stockholders' equity 946,000 935,000 $1,981,000 Determine the book value per share of the common stock. Answer is not complete. Choose Numerator: Stockholders equity applicable to common shares Book Value Per Common Share Choose Denominator: Number of common shares outstanding 330,000...
Dividends Per Share Windborn Company has 15,000 shares of cumulative preferred 2% stock, $100 par and 50,000 shares of $15 par common stock. The following amounts were distributed as dividends: 20Y1 $75,000 12,000 20Y2 2013 90,000 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter 'o'. Preferred Stock (dividends per share) $ 0.2 x Common Stock (dividends per share) 20Y1 2092 20Y3 Reporting...
The stockholders’ equity accounts of Ayayai Corp. on January 1,
2022, were as follows.
Preferred Stock (7%, $100 par noncumulative, 12,000 shares
authorized)
$720,000
Common Stock ($4 stated value, 720,000 shares authorized)
2,400,000
Paid-in Capital in Excess of Par Value—Preferred Stock
36,000
Paid-in Capital in Excess of Stated Value—Common Stock
1,152,000
Retained Earnings
1,651,200
Treasury Stock (12,000 common shares)
96,000
During 2022, the corporation had the following transactions and
events pertaining to its stockholders’ equity.
Feb.
1
Issued 12,000 shares...
Most questions answered within 3 hours.
-
Exercise 8-51 Algo
An accounting professor is notorious for being stingy in giving
out good letter...
asked 6 seconds ago -
month
total distribution cost
level of activity (unit produced)
july
230.000
3500
august
250.000
3750
september...
asked 1 minute ago -
A smoke detector system uses two devices, A and B. If smoke is
present, the probability...
asked 49 minutes ago -
Your division head has assigned another important project to you
and your team. This project is...
asked 13 minutes ago -
Under normal use conditions, the Mean Time To Failure of a
heating coil can be modeled...
asked 1 hour ago -
Consider the probability that fewer than 34 out of 116 CDs will
be defective. Assume the...
asked 29 minutes ago -
4J Manufacturing Company uses a job order cost accounting system
and keeps perpetual inventory records. Prepare...
asked 18 minutes ago -
Please write code in C++
using recursive function
Write a program that computes the sequence of...
asked 16 minutes ago -
What is 345 as an unsigned decimal number? It is 34
with subscript of 5. Not...
asked 32 minutes ago -
I've been struggling with these homework questions. Any help
would be greatly appreciated
1. For the...
asked 30 minutes ago -
Read the In-Depth Integrative Case 1.2 (Pharmaceutical
Companies, Intellectual Property, and the Global AIDS Epidemic) in...
asked 30 minutes ago -
Consider a mass-spring system. The spring has a spring constant
of 2.27e+3 N/m. On the end...
asked 35 minutes ago