Balance Sheet 2019 2018 Income Statement 2019 2018 Assets Cash $ 51,000,000 $ 47,000,000 Sales 5,100,000 $ 4,900,000 Operating Expenses: Marketable Securities 102,000 98,000 Cost of Goods Sold 5,100,000 4,700,000 Accounts Receivable Inventories 1,632,000 1,568,000 Depreciation 2,550,000 2,350,000 2,856,000 6,120,000 2,744,000 9,310,000 Selling & Admn. Expenses 5,640,000 Total Current Assets 9,690,000 $ Total Operating Expenses $ 13,770,000 $ 12,690,000 Property, Plant, & Equipment 3,264,000 3,136,000 Operating Income 37,230,000 34,310,000 Other Fixed Assets 2,703,000 2,597,000 Other Income 102,000 94,000 Total Fixed Assets 5,967,000 $ 5,733,000 $ 37,332,000 $ 34,404,000 Total Income Total Assets $ 15,657,000 $ 15,043,000 Interest Expense 1,530,000 1,410,000 Liabilities & Equity Earnings Before Tax 35,802,000 32,994,000 Accounts Payable 1,878,840 $ 1,805,160 Provision for Income Tax 8,160,000 $ 27,642,000 $ 25,474,000 7,520,000 Notes Payable Accrued Expenses Payable Accrued Taxes Payable 1,722,270 1,654,730 Net Income 1,409,130 1,353,870 1,252,560 1,203,440 Total Current Liabilities 6,262,800 $ 6,017,200 Long-Term Debt 782,850 $ 752,150 Total Liabilities 7,045,650 $ 6,769,350 Stockholder's Equity: Preferred Stock ($100 par, 6%) Common Stock ($5 par value) 1,095,990 $ 1,053,010 2,035,410 1,955,590 Paid-In Capital in Excess of Par 4,227,390 4,061,610 Retained Earnings Total Stockholder's Equity 1,252,560 1,203,440 8,611,350 $ 8,273,650 Total Liabilities & Equity $ 15,657,000 $ 15,043,000
Balance Sheet 2019 2018 Income Statement 2019 2018 Assets Cash $ 51,000,000 $ 47,000,000 Sales 5,100,000 $ 4,900,000 Operating Expenses: Marketable Securities 102,000 98,000 Cost of Goods Sold 5,100,000 4,700,000 Accounts Receivable Inventories 1,632,000 1,568,000 Depreciation 2,550,000 2,350,000 2,856,000 6,120,000 2,744,000 9,310,000 Selling & Admn. Expenses 5,640,000 Total Current Assets 9,690,000 $ Total Operating Expenses $ 13,770,000 $ 12,690,000 Property, Plant, & Equipment 3,264,000 3,136,000 Operating Income 37,230,000 34,310,000 Other Fixed Assets 2,703,000 2,597,000 Other Income 102,000 94,000 Total Fixed Assets 5,967,000 $ 5,733,000 $ 37,332,000 $ 34,404,000 Total Income Total Assets $ 15,657,000 $ 15,043,000 Interest Expense 1,530,000 1,410,000 Liabilities & Equity Earnings Before Tax 35,802,000 32,994,000 Accounts Payable 1,878,840 $ 1,805,160 Provision for Income Tax 8,160,000 $ 27,642,000 $ 25,474,000 7,520,000 Notes Payable Accrued Expenses Payable Accrued Taxes Payable 1,722,270 1,654,730 Net Income 1,409,130 1,353,870 1,252,560 1,203,440 Total Current Liabilities 6,262,800 $ 6,017,200 Long-Term Debt 782,850 $ 752,150 Total Liabilities 7,045,650 $ 6,769,350 Stockholder's Equity: Preferred Stock ($100 par, 6%) Common Stock ($5 par value) 1,095,990 $ 1,053,010 2,035,410 1,955,590 Paid-In Capital in Excess of Par 4,227,390 4,061,610 Retained Earnings Total Stockholder's Equity 1,252,560 1,203,440 8,611,350 $ 8,273,650 Total Liabilities & Equity $ 15,657,000 $ 15,043,000
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Question 72
Using Financial Statements for 2018-2019, net earnings per share of common stock for 2018 is $74.97.
TRUE OR FALSE?
Transcribed Image Text:## Financial Statements Overview
### Balance Sheet for 2019 and 2018
#### Assets
- **Cash:**
- 2019: $5,100,000
- 2018: $4,900,000
- **Marketable Securities:**
- 2019: None
- 2018: $98,000
- **Accounts Receivable:**
- 2019: $1,632,000
- 2018: $1,568,000
- **Inventories:**
- 2019: $2,958,000
- 2018: $2,744,000
- **Total Current Assets:**
- 2019: $9,690,000
- 2018: $9,310,000
- **Property, Plant, & Equipment:**
- 2019: $3,264,000
- 2018: $3,136,000
- **Other Fixed Assets:**
- 2019: $2,703,000
- 2018: $2,597,000
- **Total Fixed Assets:**
- 2019: $5,733,000
- 2018: $5,733,000
- **Total Assets:**
- 2019: $15,657,000
- 2018: $15,043,000
#### Liabilities & Equity
- **Accounts Payable:**
- 2019: $1,878,840
- 2018: $1,805,160
- **Notes Payable:**
- 2019: $1,722,270
- 2018: $1,654,730
- **Accrued Expenses Payable:**
- 2019: $1,409,130
- 2018: $1,353,870
- **Accrued Taxes Payable:**
- 2019: $1,252,560
- 2018: $1,203,440
- **Total Current Liabilities:**
- 2019: $6,262,800
- 2018: $6,017,200
- **Long-Term Debt:**
- 2019:
Expert Solution
Step 1
earning per share is calculated by dividing profit by number of shares:
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