A company reported the following data for the year ending 2018:DescriptionAmountSales$400,000Sales discount$16,000Sales returns and allowances$13,000Cost of goods sold$117,000Operating expense$153,000Income tax expense$23,750There are 25,000 shares outstanding throughout the year. What is the earnings per share?$2.08 per share$4.04 per share$3.09 per share$3.01 per share

Net Sales is calculated by subtracting the Sales Discounts and Sales Returns and Allowances from the…

Answered: A company reported the following data…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Profitability Ratios The following selected data were taken from the financial statements of Vidahill Inc. for December 31, 20Y7, 20Y6, and 20Y5: December 31 20Y7 20Y6 20Y5 Total assets $305,000 $275,000 $245,000 Notes payable (8% interest) 100,000 100,000 100,000 Common stock 40,000 40,000 40,000 Preferred 6% stock, $100 par 20,000 20,000 20,000 (no change during year) Retained earnings 106,500 80,000 60,000 The 20Y7 net income was $27,700, and the 20Y6 net income was $21,200. No dividends on common stock were declared between 20Y5 and 20Y7. Preferred dividends were declared and paid in full in 20Y6 and 20Y7. a. Determine the return on total assets, the return on stockholders' equity, and the return on common stockholders’ equity for the years 20Y6 and 20Y7. Round percentages to one decimal place. 20Y7 20Y6 Return on total assets fill in the blank 1 % fill in the blank 2 % Return on stockholders’ equity fill…
Calculate the P/R for (WMT) as of November 14, 2017, when the company's stock price closed at $91.09.2 The company's profit for the fiscal year ending January 31, 2017, was US$13.64 billion, and its number of shares outstanding was 3.1 billion.
Profitability ratios The following selected data were taken from the financial statements of Vidahill Inc. for December 31, 20Y7, 20Y6, and 20Y5: December 31 December 31 20Y7 20Y6 December 31 20Y5 Total assets $270,000 $243,000 $216,000 Notes payable (8% interest) 90,000 90,000 90,000 Common stock 36,000 36,000 36,000 Preferred 4% stock, $100 par (no change during year) 18,000 Retained earnings 90,585 18,000 69,525 18,000 54,000 The 2017 net income was $21,780, and the 20Y6 net income was $16,245. No dividends on common stock were declared between 20Y5 and 20Y7. Preferred dividends were declared and paid in full in 20Y6 and 20Y7. a. Determine the return on total assets, the return on stockholders' equity, and the return on common stockholders' equity for the years 20Y6 and 20Y7. When required, round your answers to one decimal place. 20Y7 20Y6 Return on total assets 8.1 X % 6.7 X % Return on stockholders' equity 15.1 X % 13.1 X % Return on common stockholders' equity 17.0 X % 14.7 X %…
Ratios Analyzing Firm Profitability The following information is available for Buhler Company: Annual Data 2013 2012 Net sales $8,700,000 $8,100,000 Gross profit on sales 3,053,000 2,736,000 Net income 667,600 588,000 Year-End Data Dec. 31, 2013 Dec. 31, 2012 Total assets $6,500,000 $6,100,000 Stockholders' equity 3,900,000 3,300,000 Calculate the following ratios for 2013: Note: Round answers to one decimal place, unless otherwise noted.a. Gross profit percentage Answer % b. Return on sales Answer % c. Asset turnover (Round answer to two decimal places.)Answer d. Return on assets Answer % e. Return on common stockholders' equity (Buhler Company has no preferred stock.) Answer %
Selected financial information for CraneCorporation as of December are presented below. 2014 2013 Current assets $104,640 $80,080 Current liabilities 43,680 36,400 Stockholders’ equity 124,800 110,240 Total assets 312,000 280,800 Net sales and net income for 2014 were $468,000 and $37,440 respectively. Dividends of $4,160 were declared for common stockholders and $6,240for preferred shareholders in 2014. Preferred stockholders' equity is equal to 10% of total stockholders' equity.Compute the indicated ratios at December 31, 2014, or for the year ended December 31, 2014, as appropriate. (Round answers to 2 decimal places, e.g. 2.12.) 1. Return on assets enter percentages rounded to 2 demical places % 2. Profit margin enter percentages rounded to 2 demical places % 3. Payout ratio enter percentages rounded to 2 demical places % 4. Debt assets ratio enter percentages…
The following information is available for Crest Company: Annual Data 2013 2012 Sales revenue $6,600,000 $6,000,000 Cost of goods sold 4,008,400 3,720,000 Net income 310,300 264,000 Year-End Data Dec. 31, 2013 Dec. 31, 2012 Total assets $2,750,000 $2,360,000 Common stockholders' equity 1,800,800 1,800,000 Calculate the following ratios for 2013: a. Gross profit percentage b. Return on sales
Here is the income statement for Sheridan, Inc. Sheridan, Inc. Income Statement For the Year Ended December 31, 2022 Net sales $434,000 Cost of goods sold 222,000 Gross profit 212,000 Expenses (including $10,000 interest and $20,500 income taxes) 87,000 Net income $125,000 Additional information: 1. Common stock outstanding January 1, 2022, was 58,500 shares, and 62,500 shares were outstanding at December 31, 2022. (Use a simple average for weighted-average.) 2. The market price of Sheridan stock was $10 on December 31, 2022 3. Cash dividends of $27,300 were declared and paid. Compute the following measures for 2022. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%.) (a) Earnings per share $ (b) Price-earnings ratio (c) Payout ratio Fu (d) Times interest earned times % times
Five Measures of Solvency or Profitability The balance sheet for Bearing Industries Inc. at the end of the current fiscal year indicated the following: Bonds payable, 7% $1,400,000 320,000 Preferred $5 stock, $100 par Common stock, $12 par 600,000 Income before income tax was $254,800, and income taxes were $38,800, for the current year. Cash dividends paid on common stock during the current year totaled $30,000. The common stock was selling for $40 per share at the end of the year. Determine each of the following. Round answers to one decimal place, except for dollar amounts which should be rounded to the nearest whole cent. Use the rounded answers for subsequent requirements, if required. a. Times interest earned ratio b. Earnings per share on common stock c. Price-earnings ratio d. Dividends per share of common stock e. Dividend yield $ $ times %
The most recent financial statements for Alexander Company are shown here: Income Statement Balance Sheet Sales $ 55,000 Current assets $ 86,130 Long-term debt $ 59,400 Costs 35,200 Fixed assets 47,520 Equity 74,250 Taxable income $ 19,800 Total $ 133,650 Total $ 133,650 Taxes (22%) 4,356 Net income $ 15,444 Assets and costs are proportional to sales. The company maintains a constant 36 percent dividend payout ratio and a constant debt-equity ratio. What is the maximum increase in sales that can be sustained assuming no new equity is issued?
Profitability Ratios The following selected data were taken from the financial statements of Vidahill Inc. for December 31, 20Y7, 20Y6, and 20Y5: December 31 20Y7 20Y6 20Y5 Total assets $309,000 $278,000 $247,000 Notes payable (8% interest) 100,000 100,000 100,000 Common stock 40,000 40,000 40,000 Preferred 3% stock, $100 par 20,000 20,000 20,000 (no change during year) Retained earnings 114,945 75,650 60,000 The 20Y7 net income was $39,895, and the 20Y6 net income was $16,250. No dividends on common stock were declared between 20Y5 and 20Y7. Preferred dividends were declared and paid in full in 20Y6 and 20Y7. a. Determine the return on total assets, the return on stockholders' equity, and the return on common stockholders’ equity for the years 20Y6 and 20Y7. Round percentages to one decimal place. 20Y7 20Y6 Return on total assets fill in the blank 1 % fill in the blank 2 % Return on stockholders’ equity fill…
Current Attempt in Progress The following information is available for Sunland Corporation for the year ended December 31, 2022: sales revenue $840,000, other revenues and gains $91,000, operating expenses $101,000, cost of goods sold $466,000, other expenses and losses $30,500, and preferred stock dividends $40,950. The company's tax rate was 20%, and it had 70,000 common shares outstanding during the entire year. (a) Your Answer Correct Answer Your answer is partially correct. Prepare a corporate income statement. (List other revenues before other expenses.) Sales Revenue SUNLAND CORPORATION Income Statement For the Year Ended December 31, 2022 Cost of Goods Sold tA 840,000 91,000
Pharoah Jewelers management announced that the company had net earnings of $8,107,000 for this year. The company has 3,586,000 shares outstanding, and the year-end stock price is $43.53. What are Pharoah’s earnings per share and P/E ratio? (Round answers to 2 decimal places, e.g. 12.25) Earnings per share $ enter a dollar amount rounded to 2 decimal places P/E ratio enter P/E ratio in times rounded to 2 decimal places times

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