20182017Net Income (in millions)??Weighted Average Shares Outstanding (in millions) Basic Number Shares ?59.2Diluted Number of Shares 64.8?Earnings Per Share Basic1.501.09Diluted1.431.02

EPS means earnings per share which represents the amount of money received by each shareholders out…

Answered: et Income (in millions) ? ? Weighted…

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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Book value per share1of Orlando Medical’s common stock outstanding at December 31,2018, wasa. 137.9.b. $35,147.c. $2.99.d. 20.1.
2. Assume the following data relative to ABC Corporation for 2016 is available: Net Income $1,400,000 Transactions in common shares. Jan 1, 2016 Beginning number: March 1, 2016 Purchased treasury shares June 1,2016 Stock split 2 for 1 Nov 1, 2016 Issuance of new shares 500,000 60,000 4. What is Diluted EPS per share? a 1.43 b. 1.57 c. 1.17 d. 1.24 120,000 8% Cumulative Preferred Stock Sold at par, convertible into 200,000 shares as adjusted for stock split $1,000,000 Stock Options-60,000 options Exercisable at the option price of $25 per share. $30 average market price in 2016, $20 year end marke price (market price and option price adjusted for stock split)
rehensive Problem 2- St of Cash Flows and Ratios Algo C. Klein Inc. C. Klein Inc. Income Statement Comparative Balance Sheets December 31, 2018 and 2017 For years ended December 31, 2017 and 2018 2018 2017 Change 2018 2017 $469,000 $422,000 (303,000) (248,000) 166,000 174,000 Current assets: Sales (all on credit) Cost of goods sold Gross margin Cash $52.260 34,000 $37,900 $14,360 Accounts receivable (net) 28,000 6,000 Inventory Prepaid expenses 44,000 42,000 2100 2,000 -1,200 900 Depreciation expense Other operating 5631 36,000 51,000 Other current assets 1310 2000 -690 102,000 85,000 Totol current assets 132,470 112,000 20,470 expenses Total operating 138,000 136,000 expenses ok Operating income 28.000 38,000 Long-term Investments 75,000 52,000 23,000 Other income (expenses) Plant assets 302,000 253,000 49,000 nces Interest expense (4,700) (3,500) Less: accumulated (76,800) (51,000) 25,800 depreciation Gain on sale of 4,900 3,400 Total plant assets 225,200 202,000 23,200 investments…
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The 2017 financial statements for Armstrong and Blair companies are summarized below: Blair Armstrong Company Company Statement of Financial Position $35,000 40,000 100,000 140,000 85,000 $ 22,000 30,000 40,000 400,000 308,000 Cash Accounts receivable (net) Inventory Property, plant, and equipment (net) Other non-current assets Total assets $ 400,000 $ 800,000 $ 100,000 60,000 150,000 30,000 60,000 $ 50,000 70,000 500,000 110,000 70,000 Current liabilities Long-term debt (10%) Share capital Contributed surplus Retained earnings Total liabilities and shareholders' equity $ 400,000 $ 800,000 Statement of Earnings Sales revenue (1/3 on credit) Cost of sales $ 450,000 (245,000) (160,000) $ 810,000 (405,000) (315,000) Expenses (including interest and income tax) Net earnings $ 45,000 $ 90,000 Selected data from the 2016 statements follows: Prev 1 of 2
You have been provided with the following extracts of the financial statements of Provision Ltd for the year ended 31 December 2018. Statement of financial position for the year ended 31 December 2018 Non-current assets Current assets Inventories Trade receivables Cash Total assets Equity and Liabilities Shareholders equity and reserves Contributed equity (ordinary shares) Retained income Preference shares - Non-current liabilities Loan Current liabilities Trade payables Dividends payable Inland Revenue Total equity and liabilities Note 1 S S SSS S $ SSS S SSS S S S 2018 328,000 S 498,000 S 170,000 S 90,000 $ 62,000 $ 55,000 18,000 $ 5,000 $ 2017 80,000 $ 48,000 $ 12,000 $ 20,000 $ 286,000 170,000 110,000 418,000 $ 290,000 170,000 $ 198,000 $ 50,000 $ S S 456,000 110,000 130,000 50,000 100,000 66,000 44,000 10,000 12,000 498,000 S 456,000 Extract from the statement of profit and loss for the year ended 31 December 2018: Gross revenue S 375,000 Cost of sales $ 217,000 S 158,000 Net…
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	2018	2017
Net Income (in millions)	?	?
Weighted Average Shares Outstanding (in millions)
Basic Number Shares	?	59.2
Diluted Number of Shares	64.8	?
Earnings Per Share
Basic	1.50	1.09
Diluted	1.43	1.02

et Income (in millions) ? ? Weighted Average Shares Outstanding (in millions) Basic Number Shares ? 59.2 Diluted Number of Shares 64.8 ? Earnings Per Share Basic 1.50 1.09 Diluted 1.43 1.02