earnings balance of $928,000. During 2012, the firm earned $377,000 after taxes. From this amount, preferred stockholders were paid $47,000 in dividends. At year-end 2012, the firm's retained earnings totaled $1,048,000. The firm had 140,000 shares of common stock outstanding during 2012.
earnings balance of $928,000. During 2012, the firm earned $377,000 after taxes. From this amount, preferred stockholders were paid $47,000 in dividends. At year-end 2012, the firm's retained earnings totaled $1,048,000. The firm had 140,000 shares of common stock outstanding during 2012.
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 53E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...
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Transcribed Image Text:Hayes Enterprises began 2012 with a retained
earnings balance of $928,000. During 2012, the firm
earned $377,000 after taxes. From this amount,
preferred stockholders
were paid $47,000 in
dividends. At year-end 2012, the firm's retained
earnings totaled $1,048,000. The firm had 140,000
shares of common stock outstanding during 2012.
a. Prepare a statement of retained earnings for the
year ended
December 31, 2012,
for
Hayes
Enterprises.
b. Calculate the firm's 2012 earnings per share (EPS).
c. How large a per-share cash dividend did the firm
pay on common stock during 2012?
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