Homework Answers
1 a: EPS = Netincome/ Shares outstanding
= (Operating profit – Interest- Tax-Preference dividend)/ Shares
= (285000- 30500-68500-28900)/ 21600
=$7.27
Common dividend per share = common dividend/ Shares outstanding
= 36800/21600
=$1.70
B: Increase in retained earnings
=Operating profit – Interest- Tax-Preference dividend- common dividend
=285000- 30500-68500-28900- 36800
=120300
2: Income Statement for the year ended 31 December 20X1
$
Sales (1500*225) 337500
Less: cost of production = 1500*190 285000
Gross profit 52500
Less:
Selling expenses 12300
Depreciation 15300 27600
Operating Income 24900
Less: Interest (101000*14%) 14140
Profits before tax 10760
Less: Taxes 30% 3228
Net Income 7532
Add Answer to:
1,
2,
Elite Trailer Parks has an operating profit of $285,000. Interest expense for the year...
Elite Trailer Parks has an operating profit of $293,000. Interest expense for the year was $38,800;...
Elite Trailer Parks has an operating profit of $293,000. Interest expense for the year was $38,800; preferred dividends paid were $31,500; and common dividends paid were $36,900. The tax was $65,500. The firm has 20,200 shares of common stock outstanding. a. Calculate the earnings per share and the common dividends per share for Elite Trailer Parks. (Round your answers to 2 decimal places.) b. What was the increase in retained earnings for the year?
2. Elite Trailer Parks has an operating profit or $200,000. Interest expense for the year was $10,000; preferred d...
2. Elite Trailer Parks has an operating profit or $200,000. Interest expense for the year was $10,000; preferred dividends paid were $18,750; and common dividends paid were $30,000. The tax was $61,250. The firm has 20,000 shares of common stock outstanding a. Calculate the earnings per share and the common dividends per share for Elite Trailer Parks. b. What was the increase in retained earnings for the year?
Billy Bob's has an operating profit of $300,000. Interest expense for the year was $35,000; preferred...
Billy Bob's has an operating profit of $300,000. Interest expense for the year was $35,000; preferred dividends paid were $28,900; and common dividends paid were $40,000. The tax was $75,000. The firm has 18,000 shares of common stock outstanding. 3. a. Calculate the earnings per share and the common dividends per share for Billy Bob's. add b. What was the increase in retained earnings for the year?
Stein Books Inc. sold 2,000 finance textbooks for $210 each to High Tuition University in 20X1....
Stein Books Inc. sold 2,000 finance textbooks for $210 each to High Tuition University in 20X1. These books cost $180 to produce. Stein Books spent $12,900 (selling expense) to convince the university to buy its books. Depreciation expense for the year was $15,800. In addition, Stein Books borrowed $102,000 on January 1, 20X1, on which the company paid 16 percent interest. Both the interest and principal of the loan were paid on December 31, 20X1. The publishing firm’s tax rate...
1. Stein Books Inc. sold 2,300 finance textbooks for $220 each to High Tuition University in...
1. Stein Books Inc. sold 2,300 finance textbooks for $220 each to High Tuition University in 20X1. These books cost $200 to produce. Stein Books spent $12,500 (selling expense) to convince the university to buy its books. Depreciation expense for the year was $15,800. In addition, Stein Books borrowed $100,000 on January 1, 20X1, on which the company paid 14 percent interest. Both the interest and principal of the loan were paid on December 31, 20X1. The publishing firm’s tax...
Burlington Exterminators Inc. has sales of $734,000, costs of $315,000, depreciation expense of $48,000, interest expense...
Burlington Exterminators Inc. has sales of $734,000, costs of $315,000, depreciation expense of $48,000, interest expense of $35,000, a tax rate of 35% and paid out $85,000 in cash dividends. The common stock outstanding is 110,000 shares. (Round the final answers to 2 decimal places. Omit $ sign in your response.) What is the earnings per share? Earnings per share $ What is the dividends per share? Dividends per share $
Papa Roach Exterminators, Inc., has sales of $699,000, costs of $285,000, depreciation expense of $36,000, interest...
Papa Roach Exterminators, Inc., has sales of $699,000, costs of $285,000, depreciation expense of $36,000, interest expense of $21,000, and a tax rate of 35 percent. If the firm paid out $76,000 in cash dividends. What is the addition to retained earnings? $___________________
The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of...
The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: $4,095,000 Preferred 1% Stock, $50 par (100,000 shares authorized, 81,900 shares issued) Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $3 par (5,000,000 shares authorized, 1,780,000 shares issued) Paid-In Capital in Excess of Par–Common Stock Retained Earnings 155,610 5,340,000 1,602,000 35,256,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows:...
Billy's Exterminators, Inc., has sales of $649,000, costs of $292,000, depreciation expense of $44,000, interest expense...
Billy's Exterminators, Inc., has sales of $649,000, costs of $292,000, depreciation expense of $44,000, interest expense of $32,000, a tax rate of 35 percent and paid out $76,800 in cash dividends. The common stock outstanding is 96,000 shares. What is the earnings per share? (Do not round intermediate calculations and round your answer to 2 decimal places. (e.g., 32.16)) Earnings per share $ 94 What is the dividends per share? (Do not round intermediate c your answer to 2 decimal...
4. Pharrell, Inc., has sales of $586,000, costs of $272,000, depreciation expense of $70,500, interest expense...
4. Pharrell, Inc., has sales of $586,000, costs of $272,000, depreciation expense of $70,500, interest expense of $37,500, and a tax rate of 40 percent. The firm paid out $36,500 in cash dividends and has 41,000 shares of common stock outstanding. What is the earnings per share figure? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Earnings per share $ What is the dividends per share figure? (Do not round intermediate calculations and...
2. Elite Trailer Parks has an operating profit or $200,000. Interest expense for the year was $10,000; preferred dividends paid were $18,750; and common dividends paid were $30,000. The tax was $61,250. The firm has 20,000 shares of common stock outstanding a. Calculate the earnings per share and the common dividends per share for Elite Trailer Parks. b. What was the increase in retained earnings for the year?
Billy Bob's has an operating profit of $300,000. Interest expense for the year was $35,000; preferred dividends paid were $28,900; and common dividends paid were $40,000. The tax was $75,000. The firm has 18,000 shares of common stock outstanding. 3. a. Calculate the earnings per share and the common dividends per share for Billy Bob's. add b. What was the increase in retained earnings for the year?
The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: $4,095,000 Preferred 1% Stock, $50 par (100,000 shares authorized, 81,900 shares issued) Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $3 par (5,000,000 shares authorized, 1,780,000 shares issued) Paid-In Capital in Excess of Par–Common Stock Retained Earnings 155,610 5,340,000 1,602,000 35,256,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows:...
Billy's Exterminators, Inc., has sales of $649,000, costs of $292,000, depreciation expense of $44,000, interest expense of $32,000, a tax rate of 35 percent and paid out $76,800 in cash dividends. The common stock outstanding is 96,000 shares. What is the earnings per share? (Do not round intermediate calculations and round your answer to 2 decimal places. (e.g., 32.16)) Earnings per share $ 94 What is the dividends per share? (Do not round intermediate c your answer to 2 decimal...
Most questions answered within 3 hours.
-
Assume that in a hydrogen atom, the electron circles the nucleus
in a circle of radius...
asked 11 minutes ago -
Evelyn incorporates her sole proprietorship, transferring it to
newly formed Papaya Corporation. The assets transferred have...
asked 3 minutes ago -
A
752 mL sample of water was placed in a 1000 gram pan of aluminum.
The...
asked 4 minutes ago -
1 point) Given the significance level α=0.01 find the following:
(a) left-tailed z value z= (b)...
asked 5 minutes ago -
Calculate the expected value, the variance, and the standard
deviation of the given random variable X....
asked 7 minutes ago -
Describe two obstacles that makes fixing atmospheric nitrogen
difficult.
asked 16 minutes ago -
T
F 53) Most differences
between human groups are the result of biology rather than
culture....
asked 21 minutes ago -
A 5.20 mW helium neon laser emits a visible laser beam with a
wavelength of 633...
asked 24 minutes ago -
Assignment:
Your
organization has made a strategic decision
to
outsourcework
currently performed in house. You have...
asked 22 minutes ago -
A hospital performs 100 surgeries per week. The probability that
complications after surgery occur is 10%....
asked 23 minutes ago -
In preparing its cash flow statement for the year ended December
31, 2018, Green Co. gathered...
asked 25 minutes ago -
Donna is 18 years old and full time accounting student.She is
saving for an overseas holiday...
asked 25 minutes ago