please see attachment...All sales were on account. Net cash for 2020 was $220,000. Expenditure were $136,000 and cash dividend $70,000Having trouble figuring out the earnings per share ...I keep coming up with $3.65 and Days in inventory...my calculations said 43.45 $1,890,540$1,750,500Net sales1,058,5401,006,000Cost of goods sold832,000744,500Gross profit500,000479,000Selling and administrative expenses332,000265,500Income from operationsOther expenses and losses22,00020,000Interest expense310,000245,500Income before income taxes92,00073,000Income tax expense$218,000$172,500Net incomeWahlberg CompanyBalance SheetsDecember 3120202019AssetsCurrent assets$60,100$64,200Cash74,00050,000Debt investments (short-term)117,800102,800Accounts receivable126,000115,500Inventory377,900332,500Total current assets649,000520,300Plant assets (net)$1,026,900$852,800Total assetsLiabilities and Stockholders' EquityCurrent liabilities$160,000$145,400Accounts payable43,50042,000Income taxes payableTotal current liabilities203,500187,400220,000200,000Bonds payable423,500387,400Total liabilitiesStockholders' equityCommon stock ($5 par)290,000300,000Retained earnings313,400165,400Total stockholders' equity603,400465,400$1,026,900$852,800Total liabilities and stockholders' equity

Formula: Earnings per share = Net Income / Number of shares outstanding. Division of net income with…

All sales were on account. Net cash for 2020 was $220,000. Expenditure were $136,000 and cash dividend $70,000 Having trouble figuring out the earnings per share ...I keep coming up with $3.65 and Days in inventory...my calculations said 43.45

All sales were on account. Net cash for 2020 was $220,000. Expenditure were $136,000 and cash dividend $70,000 Having trouble figuring out the earnings per share ...I keep coming up with $3.65 and Days in inventory...my calculations said 43.45

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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