Templet Corp. earned net income of $118,400 and paid the minimum dividend to preferred stockholders for 2024. Assume that there are no changes in common shares outstanding during 2024. Templet's books include the followingfigures:(Click the icon to view the figures.)Read the requirements......Requirement 1. Compute Templet's EPS for the year.Select the formula, then enter the amounts to calculate the company's earnings per share for 2024. (Abbreviations used: Ave. = average, OS = outstanding, SE = stockholders' equity, shrs = shares. Enter the earnings per share tothe nearest cent.)Earnings per share%3D%3DData tableRequirementsPreferred Stock-4%, $35 par value; 2,000 shares authorized, 1,000shares issued and outstanding35,000Common Stock-$10 par value; 95,000 shares authorized, 53,000 sharesissued, 52,000 shares outstanding530,0001. Compute Templet's EPS (Earnings Per Share) for the year.2. Assume Templet's market price of a share of common stock is $9 per share.Compute Templet's price/earnings ratio.Paid-In Capital in Excess of Par-Common530,000Treasury Stock-Common; 1,000 shares at cost(20,000)PrintDonePrintDone

1) Calculation of Earning Per Share (EPS) EPS will be calculated on the earnings available to common…

Templet Corp. earned net income of $118,400 and paid the minimum dividend to preferred stockholders for 2024. Assume that there are no changes in common shares outstanding during figures: E (Click the icon to view the figures.) Read the requirements.

Templet Corp. earned net income of $118,400 and paid the minimum dividend to preferred stockholders for 2024. Assume that there are no changes in common shares outstanding during figures: E (Click the icon to view the figures.) Read the requirements.

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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Concept explainers

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.

Question

Templet Corp. earned net income of $118,400 and paid the minimum dividend to preferred stockholders for 2024. Assume that there are no changes in common shares outstanding during 2024. Templet's books include the following
figures:
(Click the icon to view the figures.)
Read the requirements.
.....
Requirement 1. Compute Templet's EPS for the year.
Select the formula, then enter the amounts to calculate the company's earnings per share for 2024. (Abbreviations used: Ave. = average, OS = outstanding, SE = stockholders' equity, shrs = shares. Enter the earnings per share to
the nearest cent.)
Earnings per share
%3D
%3D
Data table
Requirements
Preferred Stock-4%, $35 par value; 2,000 shares authorized, 1,000
shares issued and outstanding
35,000
Common Stock-$10 par value; 95,000 shares authorized, 53,000 shares
issued, 52,000 shares outstanding
530,000
1. Compute Templet's EPS (Earnings Per Share) for the year.
2. Assume Templet's market price of a share of common stock is $9 per share.
Compute Templet's price/earnings ratio.
Paid-In Capital in Excess of Par-Common
530,000
Treasury Stock-Common; 1,000 shares at cost
(20,000)
Print
Done
Print
Done

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