Balance Sheet 2019 2018 Income Statement 2019 20 Sales Operating Expenses: $ 51,000,000 $ 47,000,00 Assets Cash $ 5,100,000 $ 4,900,000 Marketable Securities 102,000 98,000 Cost of Goods Sold 5,100,000 4,700,00 1,568,000 2,744,000 9,310,000 3,136,000 Accounts Receivable 1,632,000 Depreciation 2,550,000 2,350,00 Selling & Admn. Expenses Total Operating Expenses Inventories 2,856,000 9,690,000 $ 3,264,000 2,703,000 $ 6,120,000 5,640,00 Total Current Assets $ 13,770,000 $ 12,690,0C Property, Plant, & Equipment Operating Income 37,230,000 34,310,00 Other Fixed Assets Other Income 94,00 2,597,000 5,733,000 102,000 5,967,000 $ $ 15,657,000 $ 15,043,000 $ 37,332,000 $ 34,404,0C 1,410,0C Total Fixed Assets Total Income Total Assets Interest Expense 1,530,000 Liabilities & Equity Accounts Payable Notes Payable Earnings Before Tax Provision for Income Tax Net Income 35,802,000 32,994,00 1,878,840 $ 1,805,160 7,520,00 8,160,000 $ 27,642,000 $ 25,474,00 1,722,270 1,654,730 Accrued Expenses Payable Accrued Taxes Payable 1,409,130 1,353,870 1,252,560 6,262,800 $ 782,850 $ 7,045,650 $ 1,203,440 6,017,200 Total Current Liabilities Long-Term Debt 752,150 Total Liabilities 6,769,350 Stockholder's Equity: 1,095,990 $ 2,035,410 Preferred Stock ($100 par, 6%) Common Stock ($5 par value) Paid-In Capital in Excess of Par Retained Earnings Total Stockholder's Equity $ 1,053,010 1,955,590 4,227,390 4,061,610 1,252,560 8,611,350 $ $ 1,203,440 8,273,650 Total Liabilities & Equity 15,657,000 $ 15,043,000 %24
Balance Sheet 2019 2018 Income Statement 2019 20 Sales Operating Expenses: $ 51,000,000 $ 47,000,00 Assets Cash $ 5,100,000 $ 4,900,000 Marketable Securities 102,000 98,000 Cost of Goods Sold 5,100,000 4,700,00 1,568,000 2,744,000 9,310,000 3,136,000 Accounts Receivable 1,632,000 Depreciation 2,550,000 2,350,00 Selling & Admn. Expenses Total Operating Expenses Inventories 2,856,000 9,690,000 $ 3,264,000 2,703,000 $ 6,120,000 5,640,00 Total Current Assets $ 13,770,000 $ 12,690,0C Property, Plant, & Equipment Operating Income 37,230,000 34,310,00 Other Fixed Assets Other Income 94,00 2,597,000 5,733,000 102,000 5,967,000 $ $ 15,657,000 $ 15,043,000 $ 37,332,000 $ 34,404,0C 1,410,0C Total Fixed Assets Total Income Total Assets Interest Expense 1,530,000 Liabilities & Equity Accounts Payable Notes Payable Earnings Before Tax Provision for Income Tax Net Income 35,802,000 32,994,00 1,878,840 $ 1,805,160 7,520,00 8,160,000 $ 27,642,000 $ 25,474,00 1,722,270 1,654,730 Accrued Expenses Payable Accrued Taxes Payable 1,409,130 1,353,870 1,252,560 6,262,800 $ 782,850 $ 7,045,650 $ 1,203,440 6,017,200 Total Current Liabilities Long-Term Debt 752,150 Total Liabilities 6,769,350 Stockholder's Equity: 1,095,990 $ 2,035,410 Preferred Stock ($100 par, 6%) Common Stock ($5 par value) Paid-In Capital in Excess of Par Retained Earnings Total Stockholder's Equity $ 1,053,010 1,955,590 4,227,390 4,061,610 1,252,560 8,611,350 $ $ 1,203,440 8,273,650 Total Liabilities & Equity 15,657,000 $ 15,043,000 %24
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Question 71
Using Financial Statements for 2018-2019, net earnings per share of common stock for 2019 is $67.74.
TRUE OR FALSE?
Transcribed Image Text:**Financial Statements Overview**
The following data provides a comprehensive breakdown of a company's financial performance and position for the years 2019 and 2018.
---
**Balance Sheet**
*Assets*
- **Current Assets:**
- Cash: $5,100,000 (2019) | $4,900,000 (2018)
- Marketable Securities: $102,000 (2019) | $98,000 (2018)
- Accounts Receivable: $1,632,000 (2019) | $1,568,000 (2018)
- Inventories: $2,856,000 (2019) | $2,744,000 (2018)
- *Total Current Assets:* $9,690,000 (2019) | $9,310,000 (2018)
- **Fixed Assets:**
- Property, Plant, & Equipment: $3,624,000 (2019) | $3,136,000 (2018)
- Other Fixed Assets: $2,703,000 (2019) | $2,597,000 (2018)
- *Total Fixed Assets:* $5,733,000 (2019) | $5,733,000 (2018)
- **Total Assets:** $15,657,000 (2019) | $15,043,000 (2018)
*Liabilities & Equity*
- **Current Liabilities:**
- Accounts Payable: $1,878,840 (2019) | $1,805,160 (2018)
- Notes Payable: $1,722,270 (2019) | $1,654,730 (2018)
- Accrued Expenses Payable: $1,409,130 (2019) | $1,353,870 (2018)
- Accrued Taxes Payable: $1,252,560 (2019) | $1,203,440 (2018)
- *Total Current Liabilities:* $6,262,800 (2019) | $6,017,200 (2018)
- Long-Term Debt: $782,850 (2019) | $752,150 (2018)
- *Total Liabilities:* $7,045,650 (2019) | $6,769,350 (2018)
- **Stock
Expert Solution
Step 1
The net income per common stock shows the earning of the shareholder on his every stock. It can be calculated by deducting preferred stock from net income and dividing by no. of common stockholders.
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