Calculate Earning Per Share You remember that the New York Bakery retired 224,812 shares in 2021. That means total outstanding shares are currently overstated. Calculate Earnings Per Share for 2021 using the corrected amount and round your answer to 2 decimal points.
Calculate Earning Per Share You remember that the New York Bakery retired 224,812 shares in 2021. That means total outstanding shares are currently overstated. Calculate Earnings Per Share for 2021 using the corrected amount and round your answer to 2 decimal points.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Cost of goods sold
Interest expense
Income tax expense
Net income
Current assets (ending balance)
Long-term assets (ending balance)
Total assets (ending balance)
Current liabilities (ending balance)
Long-term liabilities (ending balance)
Total liabilities (ending balance)
Preferred dividends
Total stockholders' equity (ending
balance)
Total outstanding shares
Market price of shares
Average inventory
Average assets (excluding long-term
investments)
Average total assets
Average total stockholders' equity
Question 7
2,061,536.40 1,374,357.60 1,025,640.00 683,760.00 518,000.00
1,052,060.00 891,576.00 768,600.00 610,000.00 500,000.00
1,225,572.00 845,222.00
640,320.00
441,600.00 320,000.00
5,571,720.00 3,714,480.00 2,772,000.00
1,848,000.00 1,400,000,00
11,751,396.40 9,039,535.60 68,480,133.20 5,035,392.00 4,060,800.00
17,627,094.60 13,559,303.40 102,720,199.80 7,553,088.00 6,091,200,00
29,378,491.00 22,598,839.00 171,200,333.00 12,588,480.00 10,152,000.00
4,173,933.01 3,701,510.80 63,272,288.24 2,323,321,73 2,093,167.20
6,498,357.99 5,762,848.20 98,508,044.76 3,617,158.27 3,258,832.80
10,672,291.00 9,464,359.00 161,780,333,00 5,940,480.00 5,352,000.00
243,180.60 170,748.24 122,460.00
86,424.00
62,400.00
18,706,200.00 13,134,480.00
9,420,000.00 6,648,000.00 4,800,000.00
2,500,000.00 2,500,000,00
2,500,000.00 2,500,000.00 2,500,000.00
13.50
12.84
3,092,304.60 2,061,536,40
12.22
11.63
11.06
1,538,460.00 1,025,640.00
14,101,675.68 10,847,442.72 82,176,159.84 6,042,470.40 4,872,960.00
25,988,665.00 19,859,586.00 14,854,406.00 11,370,240.00 8,676,000.00
15,920,340.00 11,277,240.00 8,034,000.00 5,724,000.00
4,100,000.00
777,000.00
Calculate Earning Per Share
You remember that the New York Bakery retired 224,812 shares in 2021. That means total outstanding shares are
currently overstated. Calculate Earnings Per Share for 2021 using the corrected amount and round your answer to 2
decimal points.
Transcribed Image Text:Revenue
Cost of goods sold
Interest expense
Income tax expense
Net income
Current assets (ending balance)
Long-term assets (ending balance)
Total assets (ending balance)
Current liabilities (ending balance)
Long-term liabilities (ending balance)
Total liabilities (ending balance)
Preferred dividends
Total stockholders' equity (ending
balance)
Total outstanding shares
Market price of shares
Average inventory
Average assets (excluding long-term
investments)
Average total assets
Average total stockholders' equity
Question 6
2021
2020
2019
2018
2017
10,901,977.24
7,508,199.16 5,727,216.00
3,941,696.00 3,011,800.00
2,061,536.40 1,374,357.60
1,025,640.00
683,760.00
518,000.00
1,052,060.00 891,576.00
768,600.00
610,000.00
500,000.00
1,225,572.00 845,222.00 640,320.00 441,600.00 320,000.00
5,571,720.00 3,714,480.00 2,772,000.00 1,848,000.00 1,400,000.00
11,751,396.40 9,039,535.60 68,480,133.20 5,035,392.00 4,060,800.00
6,091,200.00
17,627,094.60 13,559,303.40 102,720,199.80 7,553,088.00
29,378,491.00 22,598,839.00-171,200,333.00 12,588,480.00 10,152,000.00
4,173,933.01 3,701,510.80 63,272,288.24 2,323,321.73 2,093,167.20
6,498,357.99 5,762,848.20 98,508,044.76 3,617,158.27 3,258,832.80
10,672,291.00 9,464,359.00 161,780,333.00 5,940,480.00 5,352,000.00
243,180.60
122,460.00
62,400.00
170,748.24
86,424.00
18,706,200.00 13,134,480.00
9,420,000.00 6,648,000.00 4,800,000.00
2,500,000.00 2,500,000.00
2,500,000.00 2,500,000.00
13.50
11.06
1,538,460.00 1,025,640.00
777,000.00
82,176,159.84 6,042,470,40 4,872,960.00
25,988,665.00 19,859,586.00
14,854,406.00 11,370,240.00
15,920,340.00 11,277,240.00 8,034,000.00 5,724,000.00
12.84
12.22
3,092,304.60 2,061,536.40
14,101,675.68 10,847.442.72
11.63
2,500,000.00
8,676,000.00
4,100,000.00
Calculate Return on Stockholders' Equity.
You identified an error in Net Income and Average Total Stockholders' Equity. Net Income was overstated by 398,804.74
and Average Total Stockholders' Equity was understated by 31,762.74 in 2021. Calculate Return on Stockholders' Equity
for 2021 using the corrected amounts and round your answer to 2 decimal points.
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