Week 6 SQT 6-1tlbr34p6n5v5_116utwnvo4eu9

20XX: Unearned rent Retained earnings (unrestricted) Common stock, $5 par Premium on bonds payable Bonds payable Additional paid-in capital on common stock Treasury stock, at cost Retained earnings restricted for plant expansion Sinking fund for bond retirement Required: Prepare the shareholders' equity section of the balance sheet for Meyers. $4,500 141,000 150,000 1,800 28,000 55,000 29,000 17,000 31,250

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QUESTION 6 Sorenson Co. is considering the following alternative plans for financing the company: Plan 1 Plan 2 Issue 10% bonds (at face) $100,000 Issue $10 poar common stock $150,000 50,000 Income tax is estimated at 40% of income. Determine the earnings per share of common stock under the two alternative financing plans, assuming income before bond interest and inc $39,000. Round your ansers to two decimal places. Earnings Per Common Share Plan 1 $ Plan 2 $ THIS QUESTION WILL ALSO BE CHECKED MANUALLY. QUESTION 7 On the first day of the fiscal year, a company issues a $960,000, 8%, 5-year bond that pays semiannual interest of $38,400, receiving ca n the chart of accounts below

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Problem 4 FINANCIAL RATIOS. The Format Company reports the following balance sheet data: heet Current liabilities $280.000 Bonds payable. 16% Preferred stock, 14%, $100 par value $120,000 $200,000 Common stock $25 par value. 16.800 shares $420,000 Paid-in capital on common stock $240,000 ative Retained earnings $180,000 Income before taxes is $160,000. The tax rate is 40 percent. Common stockholders' equity in the previous year was $800,000. The market price per share of common stock is $35. Requirement: Calculate the following: a. Net income; b. Preferred dividends; c. Return on common stock3; d. Times interest earned3; e. Earnings per share; f. Price/earnings ratio; and g. Book value per share.