s) Brisky Corporation had net sales of $ 2,400,000 were cost of goods sold $ 1,450,000; administrative expenses and interest revenue of $ 31,000 during 2014. Expenses for 2014 $ 212,000; selling expenses $ 280,000; and interest expense $ 45,000. Briskey has a loss of $35,000 from one unusual and infrequent occurred item (the loss from the earthquake). The company also has a loss due to discontinued operations for $20,000. Briskey also paid dividends to preferred stockholders for $30,000. Brisky's tax rate is 30%. The corporation had 100,000 shares of common stock authorized and 70,000 shares issued and outstanding during 2014. (1) Calculate the Income before irregular items for the year ended December 31, 2014. Please use multi-step format. (2) Calculate earnings per share (you will need to figure out Net Income firat)

s) Brisky Corporation had net sales of $ 2,400,000 were cost of goods sold $ 1,450,000; administrative expenses and interest revenue of $ 31,000 during 2014. Expenses for 2014 $ 212,000; selling expenses $ 280,000; and interest expense $ 45,000. Briskey has a loss of $35,000 from one unusual and infrequent occurred item (the loss from the earthquake). The company also has a loss due to discontinued operations for $20,000. Briskey also paid dividends to preferred stockholders for $30,000. Brisky's tax rate is 30%. The corporation had 100,000 shares of common stock authorized and 70,000 shares issued and outstanding during 2014. (1) Calculate the Income before irregular items for the year ended December 31, 2014. Please use multi-step format. (2) Calculate earnings per share (you will need to figure out Net Income firat)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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