!Required informationMarkus Company's common stock sold for $4.50 per share at the end of this year. The average number of common.shares outstanding during the year is 152,000. The company also paid a common stock dividend of $0.63 per share thisyear. It also provided the following data excerpts from this year's financial statements:CashAccounts receivable.InventoryTotal current assets.Current liabilitiesTotal liabilitiesCommon shareholders' equityTotal shareholdersequityTotal liabilities and common shareholders equitySales (all on account)Cost of goods sold iGross marginOperating incomeInterest expenseNet incomeThis Year$ 980,000$ 568,400$411,600$ 263,250$$13,500174,825EndingBalance$ 40,000$ 84,000$ 70,600$ 194,600.$ 78,000$184,000$152,000.$ 515,000$ 699,000Required:1. What is the earnings per share? (Round your answer to 2 decimal places.)Earnings per shareBeginningBalance.$ 40,200$63,700$ 84,000$ 187,900$ 76,500$ 165,600$152,000$ 590,000$755,600

Earnings per share is one of useful calculation done in business. This is used to calculate how much…

Answered: Required information Markus Company's…

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

These account balances at December 31 relate to Sportaid Inc.: Accounts Payable... $ 51,700 Preferred Shares, $0.01, Accounts Receivable. 81,350 890,000 shares issued 89,000 Common Shares 593,000 Retained Earnings 71,800 Bonds Payable. 3,400 Notes Receivable. 12,500 If the average issue price of Sportaid's outstanding common shares is $11.86, how many common shares are issued and outstanding? A. 50,000 B. 593,000 C. 100,000 D. Unknown
Los Altos, Inc., disclosed the following information in a recent annual report: Year 1 Year 2 Net income $35,000 $55,000 Preferred stock dividends 3,000 3,000 Average common stockholders' equity 1,200,000 1,500,000 Dividend per common share 1.20 1.20 Earnings per share 1.90 2.05 Market price per common share, year-end 19.50 21.00 Calculate the common stock dividend yield for Los Altos, Inc. for both years. Round to one decimal. Year 1 Year 2 Common stock dividend yield 6.15 % X 5.71 % X Did the dividend yield improve from Year 1 to Year 2? No +
Prag Co. reported the following financial data for its most current year: Beginning-of-year common stock $80,000 Beginning-of-year retained earnings 175,400 Net income 32,250 Dividends paid 8,500 Issuance of common stock 15,000 Compute Prag's end-of-year total stockholders' equity.
Ratio of Liabilities to Stockholders' Equity and Times Interest Earned The following data were taken from the financial statements of Hunter Inc. for December 31 of two recent years: CurrentYear PreviousYear Accounts payable $698,000 $212,000 Current maturities of serial bonds payable 460,000 460,000 Serial bonds payable, 10% 1,920,000 2,380,000 Common stock, $1 par value 100,000 130,000 Paid-in capital in excess of par 1,130,000 1,130,000 Retained earnings 3,900,000 3,100,000 The income before income tax expense was $714,000 and $624,800 for the current and previous years, respectively. a. Determine the ratio of liabilities to stockholders' equity at the end of each year. Round to one decimal place. Current year fill in the blank 1 Previous year fill in the blank 2 b. Determine the times interest earned ratio for both years. Round to one decimal place. Current year fill in the blank 3 Previous year fill in the blank 4
Preparing a Statement of Comprehensive Income and a Statement of Stockholders’ EquityThe following pretax amounts are taken from the adjusted trial balance of Gomez Corp. at December 31, its annual year-end. Sales revenue $1,400,000 Unrealized holding loss on debt securities $16,800 Cost of goods sold 784,000 Foreign currency translation adjustment, loss 25,200 Operating expenses 392,000 Common stock, 50,000 shares outstanding 210,000 Interest expense 70,000 Other information:- Assume an average 25% corporate tax rate on all items.- Assume no changes in common stock during the year.- Accumulated other comprehensive income had a $56,000- Retained earnings had a $541,800- Dividends declared and paid during the year were $70,000Requireda. Prepare two separate but consecutive statements of income and comprehensive income. Ignore earnings per share disclosures.● Note: Do not use negative signs with any of your answers. Gomez Corp. Income Statement For Year Ended…
Ratio the liabilities to stockholders equity and times interest earned. following data were taken from the financial statement of Hunter Inc.for December 31st of two recent years: Current year accounts payable $434,000. Current maturity. 290,000 Serial bonds payable, 10% 1,190,000 Common stock,$1 par value 70,000 Paid- in capital in excess of par 700,000 Retained earnings 2,420,000 Previous year $127,000 290,000 1,480,000 90,000 700,000 1,920,000 The income before income tax expense was $518,000 and $453,000 for the camera in previous years respectively. A. Determine the ratio of liabilities to stockholders Equity at the end of each year. Round to one decimal place. Current year Previous year B. Determine the times interest earned ratio for both years. Round to one decimal place. Current year Previous year C. The ratio of liabilities to stockholders Equity has _______and the number of times bond interest charges were earned has_______ from…
Balance sheet and income statement data indicate the following: Bonds payable, 10% (due in two years) $937,000 Preferred 5% stock, $100 par (no change during year) 243,000 Common stock, $50 par (no change during year) 1,770,000 Income before income tax for year 359,000 Income tax for year 70,000 Common dividends paid 88,500 Preferred dividends paid 12,150 Based on the data presented, what is the times interest earned ratio (rounded to one decimal place)?
Five Measures of Solvency or Profitability The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the following: Bonds payable, 8% $2,000,000 Preferred $5 stock, $50 par $305,000 Common stock, $12 par $226,920.00 Income before income tax was $592,000, and income taxes were $88,750 for the current year. Cash dividends paid on common stock during the current year totaled $141,825. The common stock was selling for $300 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 fill in the blank 1 times b. Earnings per share on common stock $fill in the blank 2 c. Price-earnings ratio fill in the blank 3 d. Dividends per share of common stock $fill in the blank 4 e. Dividend yield fill in the blank 5 %
Markus Company’s common stock sold for $1.75 per share at the end of this year. The company paid a common stock dividend of $0.42 per share this year. It also provided the following data excerpts from this year’s financial statements: Ending Balance Beginning Balance Cash $ 27,000 $ 43,800 Accounts receivable $ 48,000 $ 41,300 Inventory $ 45,100 $ 48,000 Current assets $ 120,100 $ 133,100 Total assets $ 312,000 $ 263,800 Current liabilities $ 49,500 $ 34,500 Total liabilities $ 82,000 $ 73,800 Common stock, $1 par value $ 105,000 $ 105,000 Total stockholders’ equity $ 230,000 $ 190,000 Total liabilities and stockholders’ equity $ 312,000 $ 263,800 This Year Sales (all on account) $ 580,000 Cost of goods sold $ 336,400 Gross margin $ 243,600 Net operating income $ 49,500 Interest expense $ 3,000 Net income $ 32,550 4. What is the return on total assets (assuming a 30% tax rate)?
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?
Balance sheet and income statement data indicate the following: Bonds payable, 10% (due in two years) $878,000 Preferred 5% stock, $100 par (no change during year) 247,000 Common stock, $50 par (no change during year) 2,192,000 Income before income tax for year 322,000 Income tax for year 80,000 Common dividends paid 109,600 Preferred dividends paid 12,350 Based on the data presented, what is the times interest earned ratio (rounded to one decimal place)? a.3.7 b.4.7 c.2.7 d.6.3
The following information was taken from the financial statements of Tolbert Inc. for December 31 of the current fiscal year:Common stock, $20 par (no change during the year) $10,000,000Preferred $4 stock, $40 par (no change during the year) 2,500,000The net income was $1,750,000, and the declared dividends on the common stock were $1,125,000 for the current year. The market price of the common stock is $45 per share. For the common stock, determine (a) the earnings per share, (b) the price-earnings ratio, (c) the dividends per share, and (d) the dividend yield. Round ratios and percentages to one decimal place, except for per-share amounts.

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS