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Comparative financial statement data for Oriole Corporation and Pharoah Corporation, two competitors, appear below. All balane sheet data are as of December 31, 2022. Oriole Pharoah Corporation Corporation 2022 2022 Net sales $1,925,000 $660,000 Cost of goods sold 1,220,000 366,000

Comparative financial statement data for Oriole Corporation and Pharoah Corporation, two competitors, appear below. All balane sheet data are as of December 31, 2022. Oriole Pharoah Corporation Corporation 2022 2022 Net sales $1,925,000 $660,000 Cost of goods sold 1,220,000 366,000

FINANCIAL ACCOUNTING
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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Comparative financial statement data for Oriole Corporation and Pharoah Corporation, two competitors, appear below. All balance sheet data are as of December 31, 2022. Oriole Pharoah Corporation Corporation 2022 2022 Net sales $1,925,000 $660,000 Cost of goods sold 1,220,000 366,000 Operating expenses 308,000 94,000 Interest expense 11,000 4,000 Income tax expense 88,000 38,000 Current assets 426,200 131,700 Plant assets (net) 535,000 141,000 Current liabilities 67,270 33,061 Long-term liabilities 149,000 29,660 Additional information: Cash from operating activities $152,200 $44,100 Capital expenditures $80,300 $22,600 Dividends paid $35,000 $14,700 Average number of shares outstanding 100,000 50,000
Transcribed Image Text:Comparative financial statement data for Oriole Corporation and Pharoah Corporation, two competitors, appear below. All balance sheet data are as of December 31, 2022. Oriole Pharoah Corporation Corporation 2022 2022 Net sales $1,925,000 $660,000 Cost of goods sold 1,220,000 366,000 Operating expenses 308,000 94,000 Interest expense 11,000 4,000 Income tax expense 88,000 38,000 Current assets 426,200 131,700 Plant assets (net) 535,000 141,000 Current liabilities 67,270 33,061 Long-term liabilities 149,000 29,660 Additional information: Cash from operating activities $152,200 $44,100 Capital expenditures $80,300 $22,600 Dividends paid $35,000 $14,700 Average number of shares outstanding 100,000 50,000
Compute the net income and earnings per share for each company for 2022. (Round earnings per share to 2 decimal places, eg 15.55.) Oriole Corporation Pharoah Corporation Net income %24 %24 Earnings per share %24 %24 t Odno6df94396.ipg Yesterday at 12:01 PM Vartardasat 1201 D 535 KB JPEG image
Transcribed Image Text:Compute the net income and earnings per share for each company for 2022. (Round earnings per share to 2 decimal places, eg 15.55.) Oriole Corporation Pharoah Corporation Net income %24 %24 Earnings per share %24 %24 t Odno6df94396.ipg Yesterday at 12:01 PM Vartardasat 1201 D 535 KB JPEG image
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