For 2010, Stoneland Corporation reported a net income of $24,000; net sales of $400,000; and average shares outstanding of 6,000. There were $6,000 preferred stock dividends. What were the 2010 earnings per share?

For 2010, Stoneland Corporation reported a net income of $24,000; net sales of $400,000; and average shares outstanding of 6,000. There were $6,000 preferred stock dividends. What were the 2010 earnings per share?

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...

See similar textbooks

Related questions

Q: I won't to this question answer general accounting question

A: Step 1: Define Capital Gain YieldThe capital gain yield is the capital gain earned from a stock…

Q: None

A: Step 1: Define Pre-determined overhead rateThe predetermined overhead rate is a measure to assign…

Q: Wilson manufacturing uses solution general accounting question

A: Step 1: Definition of Underapplied and Overapplied Manufacturing OverheadUnderapplied Overhead:…

Q: Selected information for 2017 is: please provide answer the financial accounting question

A: Step 1: Define Inventory Turnover RatioThe inventory turnover ratio is used to measure the company's…

Q: During April, the first production department of a process manufacturing system completed its work…

A: To calculate the equivalent units of production (EUP) for materials and conversion costs using the…

Q: Need help with this general accounting question

A: Step 1: Define PerpetuityA perpetuity will distribute a series of constant payments to an investor…

Q: Argent solution general accounting question

A: The Degree of Operating Leverage (DOL) can be calculated using the following formula:DOL=Fixed…

Q: Right Answer

A: Step 1. Formula for Return on Assets (ROA)The Return on Assets (ROA) measures how efficiently a…

Q: Financial accounting question

A: Step 1: Define Holding Period ReturnThe holding period return of a financial instrument can be…

Q: None.

A: Step 1: Given Value for Calculation Annual Cash Flow = c = $2416Discount Rate = r = 15% Step 2:…

Q: Kindly help me with accounting questions

A: Step 1: Define Note receivableNote receivable is the promise to reimburse the amount taken by…

Q: Gama Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead…

A: Explanation of Manufacturing Overhead:Manufacturing overhead represents all manufacturing costs that…

Q: Sarah work in account payable solution general accounting question

A: Step 1: Definition of Cash Discount TermsThe cash discount terms 2/10, net 60 mean:A 2% discount is…

Q: both answer needed in this general account query

A: To calculate the lower-of-cost-or-market (LCM) for inventory, we'll apply the rule to both…

Q: Financial Accounting

A: Step 1: Define Cost of EquityThe cost of equity is a company's cost arising from raising capital…

Q: I don't need ai answer accounting questions

A: Step 1: Define Assigning Costs to JobsManufacturing costs consist of direct materials, direct labor,…

Q: Financial Accounting

A: To determine Diego's recognized gain and the basis for his stock, we must analyze the transaction…

Q: General Accounting Question

A: Step 1: Information given for Pre-diagnostic room:Budgeted indirect costs pre diagnostic room =…

Q: I won't to this question answer general accounting

A: Given:Annual interest rate = 12% per annum compounded quarterlyEffective quarterly interest rate (r)…

Q: Please given correct answer general accounting

A: Step 1: Define Effect of Net Income on the Accounting Equation:The main objective of every business…

Q: What is optima's net income for the year on these accounting question?

A: Step 1: Define Return on Assets (ROA)Return on Assets (ROA) is a financial ratio that measures a…

Q: Genral account

A: Step 1: Information providedBeginning finished goods = $16,500Ending finished goods = $7,200Cost of…

Q: The Caraway Seed Company grows heirloom tomatoes and sells their seeds. The heirloom tomato plants…

A: Step 1:Step 2:Step 3: Step 4:

Q: general account ?

A: Calculation of Conversion Cost Per Equivalent UnitUsing the weighted-average method, the conversion…

Q: get general account answer asap

A: Equivalent Units of Production CalculationA process with no beginning work in process completed…

Q: How much is net income?

A: Step 1: Define Net SalesNet sales are described as sales that do not include discounts or allowances…

Q: It's average leval of receivables?

A: Step 1: Define Days' Sales In ReceivablesThe number of days that a company requires to convert its…

Q: a) Compute the total variable cost per unit b) calculate the total fixed

A: Explanation of Total Variable Cost per Unit:The total variable cost per unit refers to the sum of…

Q: Kindly help me with general accounting question

A: To calculate the recognized gain or loss on the sale.Step 1: Calculate the cost basis per share for…

Q: Please given correct solution this question general accounting

A: Step 1: Define Accounts Receivable TurnoverAccounts receivable turnover is calculated as net credit…

Q: What amount of net income or net loss would the company report for 2015? General accounting

A: Step 1: Given informationBeginning Stockholders' Equity: $685,000Dividends Paid: $35,000Ending…

Q: Which of the following statements explain the permanent differences between tax and financial…

A: The correct answer is:d. ii and iii ExplanationPermanent differences between tax and financial…

Q: Hii expert please given correct answer financial Accounting question

A: Step 1: Define PerpetuityA perpetuity is a security that distributes an indefinite stream of…

Q: A company uses the weighted average method of inventory valuation under a periodic inventory system.…

A: Step 1:To calculate the beginning inventory balance first we need to calculate the total number of…

Q: Hi teacher please help me this question general accounting

A: Step 1: Define Average Accounts ReceivableThe average accounts receivable is a metric that shows how…

Q: Provide financial account solution.

A: Calculation of Conversion Cost Per Equivalent UnitUsing the weighted-average method, the conversion…

Q: Powder ski shop reports solve this accounting questions

A: To calculate the amount to be reported for the ending inventory, Powder Ski Shop will use the lower…

Q: White Co. incurs a cost of $15 per pound to produce Product X, which it sells for $26 per pound. The…

A: Explanation of Differential Cost: Differential cost is the additional cost incurred when choosing…

Q: Financial accounting

A: Step 1: Define Accounts receivable turnoverAccounts receivable turnover is calculated as net credit…

Q: Accounting: [Operating leverage] Pink Corporation has sales of 1,350 units at $55 per unit. Variable…

A: Explanation of Degree of Operating Leverage (DOL): Degree of operating leverage is a measure that…

Q: Please solve this question general accounting

A: Step 1: DefineEquivalent units for direct materials are used to measure the physical units of work…

Q: Please solve this question financial accounting

A: Step 1: Define Margin AccountA margin account allows an investor to execute a transaction by both…

Q: Need help with this accounting question please solve

A: Step 1: Definition of High-Low MethodThe high-low method is a way to estimate the variable and fixed…

Q: Please given correct answer

A: Compute the interest expense for 2023 that should appear in the income statement.Interest Expense =…

Q: Manufacturing overhead cost estimates for this special order total ?

A: Step 1: Define Manufacturing CostsThe total manufacturing costs of a firm can be broadly categorized…

Q: What is the implied interest rate the investor will earn on the security of this financial…

A: Step 1: Define Annual Rate Of ReturnAn annual rate of return on investment is its geometric rate of…

Q: ?? Right answer

A: Explanation of Accounting Cycle:The accounting cycle is a systematic process of recording,…

Q: sort answer for this general account

A: The correct answer is d. 501(c)(7).Here's a detailed explanation of why this is the correct choice:…

Q: What is the company's return on investment on these general accounting question?

A: Step 1: Define Return on Investment (ROI)Return on Investment (ROI) is a financial performance…

Q: Bruce's work in process inventory balance on June 30 was___.

A: Explanation of Work in Process (WIP) Inventory:Work in Process Inventory represents the total cost…

Question

Hello tutor please provide correct answer general Accounting

For 2010, Stoneland Corporation reported a net income of
$24,000; net sales of $400,000; and average shares
outstanding of 6,000. There were $6,000 preferred stock
dividends. What were the 2010 earnings per share?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Given the following year-end information for Somerset Corporation, compute its basic earnings per share. Net income, 13,000 Preferred dividends declared, 4,000 Weighted average common shares for the year, 4,500
Rebert Inc. showed the following balances for last year: Reberts net income for last year was 3,182,000. Refer to the information for Rebert Inc. above. Also, assume that the market price per share for Rebert is 51.50. Required: 1. Compute the dollar amount of preferred dividends. 2. Compute the number of common shares. 3. Compute earnings per share. (Note: Round to two decimals.) 4. Compute the price-earnings ratio. (Note: Round to the nearest whole number.)
Rebert Inc. showed the following balances for last year: Reberts net income for last year was 3,182,000. Refer to the information for Rebert Inc. above. Also, assume that the dividends paid to common stockholders for last year were 2,600,000 and that the market price per share of common stock is 51.50. Required: 1. Compute the dividends per share. 2. Compute the dividend yield. (Note: Round to two decimal places.) 3. Compute the dividend payout ratio. (Note: Round to two decimal places.)
Cell Services Inc. (CSI) had 1,000,000 average shares outstanding during all of 2009. During 2009, CSI also had 10,000 options outstanding with exercise prices of $10 each. Th e average stock price of CSI during 2009 was $15. For purposes of computing diluted earnings per share, how many shares would be used in the denominator? B . 1,006,667.
Cell Services Inc. (CSI) had 1,000,000 average shares outstanding during all of 2009. During 2009, CSI also had 10,000 options outstanding with exercise prices of $10 each. Th e average stock price of CSI during 2009 was $15. For purposes of computing diluted earnings per share, how many shares would be used in the denominator? A . 1,003,333.
The following financial information is available for Thompson Corporation. (in millions) 2012 2011 Average common stockholders' equity $2,532 $2,591 Dividends declared for common stockholders 298 611 Dividends declared for preferred stockholders 40 40 Net income 504 555 Calculate the payout ratio and return on common stockholders' equity ratio for 2012 and 2011.
Cisco Systems Inc. reported the following in its income statement for the year ended July 27, 2013: Net income $9,983 million, basic earnings per share of $1.87 and diluted earnings per share of $1.86. How many additional dilutive shares did Cisco include in the diluted EPS for the year?
On June 17th, 2016 Walmart stock had a price of $71.30, a P/E ratio of 15.7, and a dividend yield of 2.81%. Which of the following statements is correct? The dividend per share was $2 and retained earnings per share was $2.54. The earnings per share was $2.54 and dividend per share was $2. The earnings per share was $4.54 and dividend per share was $2.54. The dividend per share was $4.54 and retained earnings per share was $2.54.
Sportplace’s net income for the period is $119,600 and its average common stockholders’ equity is $699,415. Sportplace’s return on common stockholders’ equity is closest toa. 17.1%.b. 17.2%.c. 18.4%.d. 17.3%.
Oil Services Corp. reports the following EPS data in its 2014 annual report (in millions except per share data). Net income $2,436 Earnings per share: Basic $2.08 Diluted $2.06 Weighted average shares outstanding: Basic 1,172 a.Recompute basic earnings per share. b.How many weighted average shares were dilutive in 2014?
Alcantara Corporation had the following information in its financial statements for the years ended 2010 and 2011:Cash dividends for the year 2011 $ 8,000Net income for the year ended 2011 93,000Market price of shares, 12/31/10 10Market price of shares, 12/31/11 12Ordinary shareholders' equity, 12/31/10 1,600,000Ordinary shareholders' equity, 12/31/11 1,800,000Outstanding shares, 12/31/11 150,000Preference dividends for the year ended 2011 15,000a. What is the payout ratio for Alcantara Corporation for the year ended 2011?b. What is the book value per share for Alcantara Corporation for the year ended 2011?
Culver Corporation reported net income of $682,000 in 2017 and had 217,000 shares of common stock outstanding throughout the year. Also outstanding all year were 54,900 options to purchase common stock at $8 per share. The average market price of the stock during the year was $12. Compute diluted earnings per share.