Finn, Inc. began the year with a balance in retained earnings of $16,800 and 32,000 shares of $1 par common stock outstanding. During the year, the company reported sales of $98,000, expenses of $80,800, and declared and paid a $0.20 per share cash dividend. How much is the balance in the Retained Earnings account at the end of the year? Select one: a. $10,800 b. $27,600 C. $43,600 O d. $34,000

Finn, Inc. began the year with a balance in retained earnings of $16,800 and 32,000 shares of $1 par common stock outstanding. During the year, the company reported sales of $98,000, expenses of $80,800, and declared and paid a $0.20 per share cash dividend. How much is the balance in the Retained Earnings account at the end of the year? Select one: a. $10,800 b. $27,600 C. $43,600 O d. $34,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

need all answer
A firm had the following financials last year: Sales Revenue = $3,060Accounts receivable = $500Interest expense = $126Total operating expenses = $600Accounts payable = $240Cost of goods sold = $1,800Dividend on preferred stock = $18Tax rate = 40% Number of outstanding number of common shares = 1,000 The E.P.S of the firm, rounded to four decimal places is
yellow Fire had Net Income for the year just ended of $1,850, and the firm paid out $500 in cash dividends. The company currently has 10,000 shares of common stock outstanding, and the stock currently sells for $240 per share. �What is the PE ratio?
Bolton Corporation had additions to retained earnings for the year just ended of $248,000. The firm paid out $187,000 in cash dividends, and it has ending total equity of $4.92 million. The company currently has 150,000 shares of common stock outstanding. a. What are earnings per share? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What are dividends per share? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. What is the book value per share? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) d. If the stock currently sells for $80 per share, what is the market-to-book ratio? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) e. What is the price-earnings ratio? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) f. If the…
McDonnell-Myer Corporation reported net income of $1,450 million. The company had 469 million common shares outstanding at January 1 and sold 42 million shares on February 28. As part of an annual share repurchase plan, 6 million shares were retired on April 30 for $32 per share. Calculate McDonnell-Myer's earnings per share for the year. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
ABC Company had addition to retained earnings for the current fiscal year just ended of $395,000. The firm paid out $195,000 in cash dividend, and it has ending total equity of $5.3 million. The company currently has 170,000 shares of common stock outstanding. Please answer the following questions: What are earnings per share (E/PS)? Dividends per share? Book value of share? If the stock currently sells for $64 per share, what is the market-to-book ratio? The price to earnings ratio (P/E)? The company had sales of $5.15 million, what is the price to sales ratio (P/S)? Finally, explain the implication of P/E ratio for different types of investors.
Dove, Inc., had additions to retained earnings for the year just ended of $635,000. The firm paid out $80,000 in cash dividends, and it has ending total equity of $7.30 million. a. If the company currently has 670,000 shares of common stock outstanding, what are earnings per share? Dividends per share? What is book value per share? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) b. If the stock currently sells for $30.00 per share, what is the market-to-book ratio? The price-earnings ratio? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) c. If total sales were $10.6 million, what is the price-sales ratio? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. b. C. Earnings per share Dividends per share Book value per share Market-to-book ratio Price-earnings ratio Price-sales ratio times times times