Arrange the following items in proper balance sheet presentation (Prepare a formal Balance Sheet review page 31 for example).
Arrange the following items in proper
Cash................................................................................. .... 5,000
Bonds payable................................................................. 142,000
Plant and equipment—original cost.................................. 720,000
Accounts payable........................................................................35,000
Allowance for
Common stock, $1 par, 150,000 shares outstanding...150,000
Inventory........................................................................................... 66,000
Marketable securities..................................................................15,000
Investments......................................................................................20,000
Notes payable...................................................................................83,000
Capital paid in excess of par (common stock)......................88,000
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?
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