Here is the income statement for Splish Brothers Inc. SPLISH BROTHERS INC. Income Statement For the Year Ended December 31, 2022 Sales revenue $449,100 Cost of goods sold 234,600 Gross profit 214,500 Expenses (including $15,800 interest and $25,800 income taxes) 82,585 Net income $131,915 Additional information: 1. Common stock outstanding January 1, 2022, was 28,200 shares, and 39,700 shares were outstanding at December 31, 2022. 2. The market price of Splish Brothers stock was $12.95 in 2022. 3. Cash dividends of $32,683 were paid, $6,300 of which were to preferred stockholders. Compute the following measures for 2022. (Round eamings per share to 2 decimol places, e.g 1.83 and ol other answers to 1 decim place, eg 18 or 25%) (a) Earnings per share 24 (b) Price-earnings ratio times (c) Payout ratio (d) Times interest earned times

Here is the income statement for Splish Brothers Inc. SPLISH BROTHERS INC. Income Statement For the Year Ended December 31, 2022 Sales revenue $449,100 Cost of goods sold 234,600 Gross profit 214,500 Expenses (including $15,800 interest and $25,800 income taxes) 82,585 Net income $131,915 Additional information: 1. Common stock outstanding January 1, 2022, was 28,200 shares, and 39,700 shares were outstanding at December 31, 2022. 2. The market price of Splish Brothers stock was $12.95 in 2022. 3. Cash dividends of $32,683 were paid, $6,300 of which were to preferred stockholders. Compute the following measures for 2022. (Round eamings per share to 2 decimol places, e.g 1.83 and ol other answers to 1 decim place, eg 18 or 25%) (a) Earnings per share 24 (b) Price-earnings ratio times (c) Payout ratio (d) Times interest earned times

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

The income statement for Misbah Corporation appears below. Income Statement Data for the year ended December 31, 2018 Net Sales Rs. 400,000 Cost of Goods Sold 235,000 Gross Profit 165,000 Expenses (including Rs. 14,000 interest and Rs. 17,000 income taxes) 105,000 Net Income 60,000 Additional Information 1. The weighted average common shares outstanding in 2018 were 30,000 shares 2. The market price of company stock was Rs. 10.80 in 2018 3. Cash dividends of Rs. 21,000 were paid Instructions: Compute the following ratios for 2018 (a)Earnings per share (b)Price Earnings Ratio (c) Dividend per share (c)Payout Ratio (d) Times Interest Earned (f) Dividend Yield
Snow Cleaners, Inc., had net income of $493,600 for its year ended December 31, 2018. During the year, the company had outstanding 64,000 shares of Preferred Stock at 12% with a $40 par value, and 37,280 shares of common stock with a par value of $10. Calculate the earnings per share of common stock for the year ended December 31, 2018.
Comparative statements of retained earnings for Renn-Dever Corporation were as follows: RENN-DEVER CORPORATION Statements of Retained Earnings For the Years Ended December 31 2026 $7,182,952 3,588,700 Balance at beginning of year Net income (loss) Deductions: Stock dividend (39,000 shares) Common shares retired (138,000 shares) Common stock cash dividends Balance at end of year At December 31, 2023, common shares consisted of the following: Common stock, 1,970,000 shares at $1 par Paid-in capital-excess of par View transaction list Journal entry worksheet < 2 3 4 1 5 273,000 989,950 $9,508,702 6 Required: Infer from the reports the events and transactions that affected Renn-Dever Corporation's retained earnings during 2024, 2025, and 2026. Prepare the journal entries that reflect those events and transactions. (Hint: In lieu of revenues and expenses, use an account titled "Income summary" to close net income or net loss.) Note: If no entry is required for a transaction/event, select…
Please Do not Give image format
A company reports the following: Net income $163,510 $12,110 Preferred dividends Shares of common stock outstanding 20,000 Market price per share of common stock $169.95 Determine the company's price-earnings ratio. Round your answer to two decimal places.
Markus Company’s common stock sold for $5.25 per share at the end of this year. The company paid a common stock dividend of $0.63 per share this year. It also provided the following data excerpts from this year’s financial statements: EndingBalance BeginningBalance Cash $ 49,000 $ 44,200 Accounts receivable $ 92,000 $ 68,700 Inventory $ 76,300 $ 92,000 Current assets $ 217,300 $ 204,900 Total assets $ 801,000 $ 875,400 Current liabilities $ 85,500 $ 90,000 Total liabilities $ 206,000 $ 185,400 Common stock, $1 par value $ 165,000 $ 165,000 Total stockholders’ equity $ 595,000 $ 690,000 Total liabilities and stockholders’ equity $ 801,000 $ 875,400 This Year Sales (all on account) $ 1,095,000 Cost of goods sold $ 635,100 Gross margin $ 459,900 Net operating income $ 313,875 Interest expense $ 15,500 Net income $ 208,862 7. What is the amount of working capital and the current ratio at the end of this year?
The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 62 on December 31, 20Y2. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Retained earnings, January 1 $1,808,800 $1,544,500 Net income 414,400 316,300 Total $2,223,200 $1,860,800 Dividends: On preferred stock $13,300 $13,300 On common stock 38,700 38,700 Total dividends $52,000 $52,000 Retained earnings, December 31 $2,171,200 $1,808,800 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Sales $2,413,380 $2,223,550 Cost of goods sold 825,630 759,580 Gross profit $1,587,750 $1,463,970 Selling expenses $541,940 $662,800 Administrative expenses 461,660 389,260 Total operating expenses $1,003,600 $1,052,060 Income from…
Below is select information from DC United Company's income statement. At the end of the current year, the weighted average number of common shares outstanding was 133,000. Select Data from Income Statement, End of Current Year Sales $ 952,000 Cost of goods sold 802, 000 Operating expenses 82,000 Tax expense 16,000 Required: Calculate EPS for DC United.
The following balances were taken from the records of Sheridan Company: Common stock (1/1/20 and 12/31/20) $724, 100 Retained earnings 1/1/20 $162, 700 Net income for 2023 183, 500 Dividends declared in 2023 (43,800) Retained earnings, 12/31/20 302,400 Total stockholders' equity on 12/31/20 $1,026, 500 Windsor Company purchased 75% of Sheridan Company's common stock on January 1, 2021 for $901,200. The difference between implied value and book value is attributable to assets with a remaining useful life on January 1, 2023 of ten years. (a) Compute the difference between cost/(implied) and book value applying: 1. Parent company theory. 2. Economic unit theory. Difference 1. Parent company theory $ 2. Economic unit theory $
he financial statements of Friendly Fashions include the following selected data (in millions): ($ in millions except share data) 2021 2020 Sales $ 9,343 $ 10,434 Net income $ 230 $ 748 Stockholders' equity $ 1,760 $ 2,240 Average Shares outstanding (in millions) 640 - Dividends per share $ 0.33 - Stock price $ 8.10 - Required:Calculate the following ratios for Friendly Fashions in 2021. (Enter your Dividend yield and Price-earning ratio values to 2 decimal places. Enter your answers in millions (i.e. 5,500,000 should be entered as 5.5).)
Here is the income statement for Sheridan, Inc. Sheridan, Inc. Income Statement For the Year Ended December 31, 2022 Net sales $434,000 Cost of goods sold 222,000 Gross profit 212,000 Expenses (including $10,000 interest and $20,500 income taxes) 87,000 Net income $125,000 Additional information: 1. Common stock outstanding January 1, 2022, was 58,500 shares, and 62,500 shares were outstanding at December 31, 2022. (Use a simple average for weighted-average.) 2. The market price of Sheridan stock was $10 on December 31, 2022 3. Cash dividends of $27,300 were declared and paid. Compute the following measures for 2022. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%.) (a) Earnings per share $ (b) Price-earnings ratio (c) Payout ratio Fu (d) Times interest earned times % times
199. Subject : - Accounting