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for Quigg Inc. at the end of the currents 10% ck, $50 par 15 par

for Quigg Inc. at the end of the currents 10% ck, $50 par 15 par

FINANCIAL ACCOUNTING
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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A31.

 

Five Measures of Solvency or Profitability The balance sheet for Quigg Inc. at the end of the current fiscal year indicated the following: Bonds payable, 10% $1,400,000 Preferred $10 stock, $50 par 54,500 Common stock, $15 par 269,775 Income before income tax expense was $224,000, and income taxes were $33,250 for the current year. Cash dividends paid on common stock during the current year totaled $43,164. The common stoEk was selling for $120 per share at the end of the year. Determine each of the following. Round answers to one decimal place, except for dollar amounts which should be rounded to the nearest whole cent. Use the rounded answers for subsequent requirements, if required. a. Times interest earned ratio b. Earnings per share on common stock c. Price-earnings ratio d. Dividends per share of common stock e. Dividend yield times %
Transcribed Image Text:Five Measures of Solvency or Profitability The balance sheet for Quigg Inc. at the end of the current fiscal year indicated the following: Bonds payable, 10% $1,400,000 Preferred $10 stock, $50 par 54,500 Common stock, $15 par 269,775 Income before income tax expense was $224,000, and income taxes were $33,250 for the current year. Cash dividends paid on common stock during the current year totaled $43,164. The common stoEk was selling for $120 per share at the end of the year. Determine each of the following. Round answers to one decimal place, except for dollar amounts which should be rounded to the nearest whole cent. Use the rounded answers for subsequent requirements, if required. a. Times interest earned ratio b. Earnings per share on common stock c. Price-earnings ratio d. Dividends per share of common stock e. Dividend yield times %
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