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J. Bartley Pools Inc. reported the following in its financial statements for the quarter ended March...
E11-17 Determining the Effect of a Stock Repurchase on EPS and ROE [LO 11-2, LO 11-5]...
E11-17 Determining the Effect of a Stock Repurchase on EPS and ROE [LO 11-2, LO 11-5] Swimtech Pools Inc. (SPI) reported the following in its financial statements for the quarter ended March 31, 2018 December March 31, 31, 2017 52,000 31,200 20,800 2018 Common Stock, $1 par, 52,000 shares outstanding Additional Paid-In Capital Retained Earnings 52,000 31,200 20,800 Total Stockho lders' Equity $104,000 $104,000 During the quarter ended March 31, SPI reported Net Income of $6,240 and declared and paid...
EzeeCredit Company reported net income of $4,080,000 for the year ended December 31, 2020. During the...
EzeeCredit Company reported net income of $4,080,000 for the year ended December 31, 2020. During the year the company also declared and paid dividends of $510,000 on the company's preferred shares. During the same period, the company had a total of 11,900,000 common shares outstanding. Calculate the company's earnings per share (or EPS). (Round answer to 2 decimal places, e.g. 52.75.) Earnings per share (or EPS)
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018 2017 Common shares 100,000 100,000 Convertible preferred shares (convertible into 46,000 shares of common) 20,400 20,400 10% convertible bonds (convertible into 20,000 shares of common) $ 1,000,000 $ 1,000,000 Ames’s net income for the year ended December 31, 2018, is $640,000. The income tax rate is 40%. Ames paid dividends of $5 per share on its preferred stock during 2018. Required: Compute basic and...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018 2017 Common shares 100,000 100,000 Convertible preferred shares (convertible into 46,000 shares of common) 20,400 20,400 10% convertible bonds (convertible into 20,000 shares of common) $ 1,000,000 $ 1,000,000 Ames’s net income for the year ended December 31, 2018, is $640,000. The income tax rate is 40%. Ames paid dividends of $5 per share on its preferred stock during 2018. Required: Compute basic and...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018 2017...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018 2017 Common shares 100,000 100,000 Convertible preferred shares (convertible into 42,000 shares of common) 18,000 18,000 106 convertible bonds (convertible into 20,000 shares of common) $1,000,000 $1,000,000 Ames's net income for the year ended December 31, 2018, is $600,000. The income tax rate is 40%. Ames paid dividends of $5 per share on its preferred stock during 2018 Required: Compute basic and diluted earnings per...
Please help. Information from the financial statements of Ames Fabricators, Inc., included the following: December 31...
Please help.
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018 2017 100,000 100,000 Common shares Convertible preferred shares (convertible into 42,000 shares of common) 10% convertible bonds (convertible into 20,000 shares of common) 18,000 18,000 $1,000,000 $1,000,000 Ames's net income for the year ended December 31, 2018, is $600,000. The income tax rate is 40%. Ames paid dividends of $5 per share on its preferred stock during 2018. Required: Compute basic and diluted...
Sage Company reported the following amounts in the stockholders’ equity section of its December 31, 2016,...
Sage Company reported the following amounts in the stockholders’ equity section of its December 31, 2016, balance sheet. Preferred stock, 10%, $100 par (10,000 shares authorized, 1,800 shares issued) $180,000 Common stock, $5 par (103,500 shares authorized, 20,700 shares issued) 103,500 Additional paid-in capital 114,000 Retained earnings 423,000 Total $820,500 During 2017, Sage took part in the following transactions concerning stockholders’ equity. 1. Paid the annual 2016 $10 per share dividend on preferred stock and a $2 per share dividend...
Range Energy Corp.’s financial statements for the current year ended December 31, 2017, have been completed...
Range Energy Corp.’s financial statements for the current year ended December 31, 2017, have been completed and submitted to you for review. The equity account balances a year ago, at December 31, 2016, are as follows: Preferred shares, $4.20 non-cumulative, 10,400 shares authorized, issued, and outstanding $752,050 Common shares, unlimited shares authorized, 124,000 shares issued and outstanding 1,428,350 Retained earnings 681,795 The only share transactions during 2017 were the declaration and distribution of a 24,800 common share dividend on July...
Use the following financial statements for Lake of Egypt Marina, Inc. LAKE OF EGYPT MARINA, INC...
Use the following financial statements for Lake of Egypt Marina, Inc. LAKE OF EGYPT MARINA, INC Balance Sheet as of December 31, 2018 and 2017 (in millions of dollars) 2018 2017 2018 2017 Liabilities and Equity Current liabilitiest AssetB Current assets Cash and marketable securities Accounts receivable Inventory 40 30 Accrued wages and taxes Accounts payable Notes payable s 24 30 $114 3 175 $247 Total $129 $104 Fixed assets Gross plant and equipment Lesst Depreciation Long-term debt: Stockholders equity...
Stanley Department Stores reported net income of $731,000 for the year ended December 31, 2018 Additional...
Stanley Department Stores reported net income of $731,000 for the year ended December 31, 2018 Additional Information: 60,000 12,000 Common shares outstanding at Jan. 1. 2018 Incentive stock options (vested in 2017) outstanding throughout 2018 (Each option is exereisable for one common share at an exercise price of $20.50) During the year, the market price of Stanley's common stock averaged $24.6 per share. On Aug. 30 Stanley sold 15,000 common shares. Stanley's only debt consisted of $31,000 of 100 short...
E11-17 Determining the Effect of a Stock Repurchase on EPS and ROE [LO 11-2, LO 11-5] Swimtech Pools Inc. (SPI) reported the following in its financial statements for the quarter ended March 31, 2018 December March 31, 31, 2017 52,000 31,200 20,800 2018 Common Stock, $1 par, 52,000 shares outstanding Additional Paid-In Capital Retained Earnings 52,000 31,200 20,800 Total Stockho lders' Equity $104,000 $104,000 During the quarter ended March 31, SPI reported Net Income of $6,240 and declared and paid...
EzeeCredit Company reported net income of $4,080,000 for the year ended December 31, 2020. During the year the company also declared and paid dividends of $510,000 on the company's preferred shares. During the same period, the company had a total of 11,900,000 common shares outstanding. Calculate the company's earnings per share (or EPS). (Round answer to 2 decimal places, e.g. 52.75.) Earnings per share (or EPS)
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018 2017 Common shares 100,000 100,000 Convertible preferred shares (convertible into 42,000 shares of common) 18,000 18,000 106 convertible bonds (convertible into 20,000 shares of common) $1,000,000 $1,000,000 Ames's net income for the year ended December 31, 2018, is $600,000. The income tax rate is 40%. Ames paid dividends of $5 per share on its preferred stock during 2018 Required: Compute basic and diluted earnings per...
Please help.
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018 2017 100,000 100,000 Common shares Convertible preferred shares (convertible into 42,000 shares of common) 10% convertible bonds (convertible into 20,000 shares of common) 18,000 18,000 $1,000,000 $1,000,000 Ames's net income for the year ended December 31, 2018, is $600,000. The income tax rate is 40%. Ames paid dividends of $5 per share on its preferred stock during 2018. Required: Compute basic and diluted...
Use the following financial statements for Lake of Egypt Marina, Inc. LAKE OF EGYPT MARINA, INC Balance Sheet as of December 31, 2018 and 2017 (in millions of dollars) 2018 2017 2018 2017 Liabilities and Equity Current liabilitiest AssetB Current assets Cash and marketable securities Accounts receivable Inventory 40 30 Accrued wages and taxes Accounts payable Notes payable s 24 30 $114 3 175 $247 Total $129 $104 Fixed assets Gross plant and equipment Lesst Depreciation Long-term debt: Stockholders equity...
Stanley Department Stores reported net income of $731,000 for the year ended December 31, 2018 Additional Information: 60,000 12,000 Common shares outstanding at Jan. 1. 2018 Incentive stock options (vested in 2017) outstanding throughout 2018 (Each option is exereisable for one common share at an exercise price of $20.50) During the year, the market price of Stanley's common stock averaged $24.6 per share. On Aug. 30 Stanley sold 15,000 common shares. Stanley's only debt consisted of $31,000 of 100 short...
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