The following information pertains to Parsons Co. Preferred stock, cumulative: Par value per share Dividend rate Shares outstanding Dividends in arrears Common stock: Par value per share Shares issued Dividends paid per share Market price per share Additional paid-in capital Unappropriated retained earnings (after closing) Retained earnings appropriated for contingencies Common treasury stock Number of shares Total cost Net income $100 6% 10,000 none $10 120,000 $1.80 $48.00 $400,000 $270,000 $300,000 10,000 $250,000 $500,000 Instructions Compute (assume no changes in balances during the past yoar): (a) Total amount of stockholders' equity in the balance sheet (b) Earnings per share of common stock Book value per share of common stock (c)

The following information pertains to Parsons Co. Preferred stock, cumulative: Par value per share Dividend rate Shares outstanding Dividends in arrears Common stock: Par value per share Shares issued Dividends paid per share Market price per share Additional paid-in capital Unappropriated retained earnings (after closing) Retained earnings appropriated for contingencies Common treasury stock Number of shares Total cost Net income $100 6% 10,000 none $10 120,000 $1.80 $48.00 $400,000 $270,000 $300,000 10,000 $250,000 $500,000 Instructions Compute (assume no changes in balances during the past yoar): (a) Total amount of stockholders' equity in the balance sheet (b) Earnings per share of common stock Book value per share of common stock (c)

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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Earnings per share Financial statement data for the years 20Y5 and 20Y6 for Black Bull Inc. follow: 20Y5 20Y6 Net income $1,715,000 $2,437,000 Preferred dividends $50,000 $50,000 Average number of common shares outstanding 90,000 shares 110,000 shares a. Determine the earnings per share for 20Y5 and 20Y6. Round to two decimal places. 20Y5 20Y6 Earnings per Share $fill in the blank 1 $fill in the blank 2 b. Is the change in the earnings per share from 20Y5 to 20Y6 favorable or unfavorable?
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