The following information was taken from the financial statements of Zeil Inc. for December 31 of the current fiscal year:- **Common stock, $40 par value (no change during the year):** $6,800,000- **Preferred $4 stock, $200 par (no change during the year):** $4,000,000The net income was $624,000 and the declared dividends on the common stock were $42,500 for the current year. The market price of the common stock is $22.40 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**.*If required, round your answers to two decimal places.*- **a. Earnings per Share**: $ [Input box]- **b. Price-Earnings Ratio**: [Input box]- **c. Dividends per Share**: $ [Input box]- **d. Dividend Yield**: [Input box] %

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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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PickApart Arts, Inc., had earnings of $565,300 for the year. The company had 55,000 shares of common stock outstanding during the year and issued 23,000 shares of $50 par value preferred stock. The preferred stock has a dividend of $2.10 per share. There were no transactions in either common or preferred stock during the year. Determine the basic earnings per share for PickApart Arts for the year. Round answer to two decimal places.$ ? per share
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.
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The following information was taken from the financial statements of Zeil Inc. for December 31 of the current fiscal year: Common stock, $15 par value (no change during the year) $2,700,000 Preferred $4 stock, $100 par (no change during the year) 2,000,000 The net income was $656,000 and the declared dividends on the common stock were $45,000 for the current year. The market price of the common stock is $24.00 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. If required, round your answers to two decimal places. a. Earnings per Share $fill in the blank 1 b. Price-Earnings Ratio fill in the blank 2 c. Dividends per Share $fill in the blank 3 d. Dividend Yield fill in the blank 4
The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 61 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 $3,350,500 $2,822,200 Net income 748,800 578,100 Dividends: On preferred stock (9,800) (9,800) On common stock (40,000) (40,000) Retained earnings, December 31 $4,049,500 $3,350,500 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Sales $4,270,500 $3,934,620 Cost of merchandise sold 1,608,920 1,480,210 Gross profit $2,661,580 $2,454,410 Selling expenses $844,790 $1,058,190 Administrative expenses 719,640 621,470 Total operating expenses $1,564,430 $1,679,660 Income from operations $1,097,150 $774,750 Other revenue and…
The net income reported on the income statement of Cutler Co. was $4,000,000. There were 500,000 shares of $10 par common stock and 100,000 shares of $2 preferred stock outstanding throughout the current year. The income statement included a gain on discontinuedoperations of $400,000 after applicable income tax. Determine the per-share figures for common stock for (a) income before discontinued operations and (b) net income.
Per share market price of Far Eastern Co. stock on January 1, 19x8 was P60 and on December 31, 19x8 was P72. Net income for 19x8 was P48,000. Dividends to the preferred stockholders for the year totaled P12,000, and dividends of P2.50 per share were paid on the 6,000 shares of common stock outstanding during the year. The price-earnings ratio for Far Eastern Co. at year end was: (SHOW SOLUTION)a. 10 to 1b. 6 to 1c. 11 to 1d. 12 to 1 The total assets in the Deidet Co. on December 31, 29x8 were P2.3 million and on December 31, 19x9 were P2.5 million. Income after taxes for 19x9 was P188,000. Dividends for 19x9 totaled P75,000, interest expenses totaled P70,000, and tax rate was 30%. The return on total assets for 19x9 (rounded to the nearest tenth of a percentage point) is: (SHOW SOLUTION)a. 9.5%b. 6.8%c. 9.9%d. 10.8%
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.
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)?
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
At December 31, the records of Kozmetsky Corporation provided the following selected and incomplete data: Common stock (par $2; no changes during the current year). Shares authorized, 5,000,000. Shares issued, ? ; issue price $9 per share. Shares held as treasury stock, 11,300 shares, cost $7 per share. Net income for the current year, $441,620. Common Stock account, $147,000. Dividends declared and paid during the current year, $2 per share. Retained Earnings balance, beginning of year, $770,000. Required: Complete the following: (Round "Earnings per share" to 2 decimal places.) 1-a. Shares issued 1-b. Shares outstanding 2. The balance in Additional Paid-in Capital would be 3. Earnings per share is 4. Total dividends paid on common stock during the current year is 5. Treasury stock should be reported in the stockholders' equity section of the balance sheet in the amount of 6. Assume that the board of directors voted a 2-for-1 stock split. After the stock split, the par value per share…
The net income reported on the income statement of Cutler Co. was $4,000,000. There were 500,000 shares of $10 par common stock and 100,000 shares of $2 preferred stock outstanding throughout the current year. The income statement included a gain on discontinued operations of $400,000 after applicable income tax. a. Determine the per- share figure for common stock income before discontinue operation. round your answer to the nearest whole cent. $ Per share B. Determine the per- share figure got common stock for net income. Round your answe to the nearest whole cent $ Per share

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