Please give me true answer this financial accounting question Everdeen Mining, Inc., ended 2015 with net profits before taxes of $430,000. The company is subject to a 40% taxrate and must pay $62,600 in preferred stock dividends before distributing any earnings on the $171,000 sharesof common stock currently outstanding.a) The firms EPS isb) If the firm paid common stock dividends of .84 cents per share the amount that would go to retained earningsis

a) EPS (Earnings Per Share)EPS is calculated as:EPS=Net Income Available to Common Shareholders/…

Answered: Everdeen Mining, Inc., ended 2015 with…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 18P

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On January 1, 2019, Kittson Company had a retained earnings balance of 218,600. It is subject to a 30% corporate income tax rate. During 2019, Kittson earned net income of 67,000, and the following events occurred: 1. Cash dividends of 3 per share on 4,000 shares of common stock were declared and paid. 2. A small stock dividend was declared and issued. The dividend consisted of 600 shares of 10 par common stock. On the date of declaration, the market price of the companys common stock was 36 per share. 3. The company recalled and retired 500 shares of 100 par preferred stock. The call price was 125 per share; the stock had originally been issued for 110 per share. 4. The company discovered that it had erroneously recorded depreciation expense of 45,000 in 2018 for both financial reporting and income tax reporting. The correct depreciation for 2018 should have been 20,000. This is considered a material error. Required: 1. Prepare journal entries to record Items 1 through 4. 2. Prepare Kittsons statement of retained earnings for the year ended December 31, 2019.
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In 2022, Santiago Castillo Limited reported a discontinued operations loss of $2,750,000, net of tax. It declared and paid preferred stock dividends of $265,700 and common stock dividends of $492,650. During 2022, had a weighted average of $500,000 common shares outstanding. As a result of the discontinued operations loss, net of tax, the earning per share would decrease by Question 44 Answer a. $4.51 b. $4.97 c. $3.98 d. $5.50 Clear my choice
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1. for of $770,000 from a yder ts) Finley Corporation had income before income taxes 2914 of $6,300,000. In addition, it suffered a pretax gain discontinued operation. The corporation's tax rate is 30%. Prepare a partial income statement for Finley Corporation beginning with income before income taxes. The corporation had 5,000,000 shares of common stock outstanding during 2014. 20
Financial Accounting
During the year just ended, Spriha’s distribution had pretax earnings from operations of $2,290,000. In addition, during the year it received $150,000 in income from interest on bonds & received $88,000 in income from dividend on common stock holding in Microsoft. Spriha’s distribution company is in the 40% tax bracket & is eligible for 70% dividend exclusion.*Interest income received by the company is treated as ordinary income. a. Find the tax and after-tax amount attributable to the interest income.b. Find the tax and after-tax amount attributable to the dividend income
The following information relates to the operations of Branded Ltd. The net profit after tax was $1,000,000. The company distributed ordinary dividends of $600,000 to its shareholders. Over the year, weighted average number of ordinary shares were 2,000,000. Ordinary shares are currently selling for $8.00 per share. What is the earning per share for the company? 0.20. 0.33. 0.40. 0.50.
The following information relates to the operations of Branded Ltd. The net profit after tax was $1,000,000. The company distributed ordinary dividends of $600,000 to its shareholders. Over the year, weighted average number of ordinary shares were 2,000,000. Ordinary shares are currently selling for $8.00 per share. What is the dividend pay-out rate for the company? 60% 47.5% 50% 166.67%
Edna Recording Studios, Inc., reported earnings available to common stock of $4,200,000last year. From those earnings, the company paid a dividend of $1.28 on each of its 1,000,000 common shares outstanding. The capital structure of the company includes 30% debt, 15% preferred stock, and 55% common stock. It is taxed at a rate of 21%. a. If the market price of the common stock is $46 and dividends are expected to grow at a rate of 6% per year for the foreseeable future, what is the company's cost of retained earnings financing? b. If underpricing and flotation costs on new shares of common stock amount to $7 per share, what is the company's cost of new common stock financing? c. The company can issue $2.01 dividend preferred stock for a market price of $34 per share. Flotation costs would amount to $4 per share. What is the cost of preferred stock financing? d. The company can issue $1,000-par-value, 8% annual coupon, 5-year bonds that can be sold for…
BubbleTree Inc. had a taxable income of $440,000 last year. Its average tax rate is 31% and it paid out $120,000 in dividends to preferred stockholders. The company has 12,000 shares of common stock outstanding. If BubbleTree pays out a dividend of $12.24 for each share of common stock, what are retained earnings?

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