Abel Company provided the following information from its financial recordsNet incomeCommon stock dividendsPreferred stock dividendsSalesWhat is the amount of the company's earnings per share?Multiple Choice1082$$ 250,000 Common shares outstanding 1/120,000 Common shares outstanding 12/31$ 25,000 Preferred shares outstanding 1/1Preferred shares outstanding 12/31$1,000,000$0.75200,000300,00010,0006,000

The earnings per share is calculated as net income available to common shareholders divided by…

Answered: Abel Company provided the following…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 5MCQ

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Rebert Inc. showed the following balances for last year: Reberts net income for last year was 3,182,000. Refer to the information for Rebert Inc. above. Also, assume that the market price per share for Rebert is 51.50. Required: 1. Compute the dollar amount of preferred dividends. 2. Compute the number of common shares. 3. Compute earnings per share. (Note: Round to two decimals.) 4. Compute the price-earnings ratio. (Note: Round to the nearest whole number.)
Treasury Stock, Cost Method Bush-Caine Company reported the following data on its December 31, 2018, balance sheet: The following transactions were reported by the company during 2019: 1. Reacquired 200 shares of its preferred stock at 57 per share. 2. Reacquired 500 shares of its common stock at 16 per share. 3. Sold 100 shares of preferred treasury stock at 58 per share. 4. Sold 200 shares of common treasury stock at 17 per share. 5. Sold 100 shares of common treasury stock at 9 per share. 6. Retired the shares of common stock remaining in the treasury. The company maintains separate treasury stock accounts and related additional paid-in capital accounts for each class of stock. Required: 1. Prepare the journal entries required to record the treasury stock transactions using the cost method. 2. Assuming the company earned a net income in 2019 of 30.000 and declared and paid dividends of 10,000, prepare the shareholders equity section of its balance sheet at December 31, 2019.
Ratio Analysis MJO Inc. has the following stockholders equity section of the balance sheet: On the balance sheet date, MJOs stock was selling for S25 per share. Required: Assuming MJOs dividend yield is 1%, what are the dividends per common share? Assuming MJOs dividend yield is 1% and its dividend payout is 20%, what is MJOs net income?
Given the following year-end information for Somerset Corporation, compute its basic earnings per share. Net income, 13,000 Preferred dividends declared, 4,000 Weighted average common shares for the year, 4,500
Norling Corporation reports the following information: Net income Dividends on common stock Dividends on preferred stock Weighted average common shares outstanding Norling should report earnings per share of O $1.50. O $1.80 O $2.20. O $2.50. $500,000 140,000 60,000 200,000
Sunland Corporation reports the following information: Net income Dividends on common stock Dividends on preferred stock Weighted-average common shares outstanding Sunland should report earnings per share of O $3.48. O $4.69. O $4.13. O $3.13. $506140 130000 60100 108000
Assume that all balance sheet amounts for Sheridan Company represent average balance figures. Stockholders' equity - common Total stockholders' equity Sales revenue Net income Number of shares of common stock Common stock dividends Preferred stock dividends $ 371000 O $2.00 $1.40 $1.94 $2.10 811000 418000 81000 38000 32000 5000 What is the earnings per share for Sheridan? Assume that all balance sheet amounts for Sheridan Company represent average balance figures. What is the earnings per share for Sheridan? $\ $ 200 $ $\$ 1.40 $ $\$ 1.94 $ $\$ 2.10 $
Financial statement data for the years 20Y5 and 20Y6 for Black Bull Inc. follow:20Y520Y6Net income$1,680,000$2,578,500Preferred dividends$60,000$60,000Average number of common shares outstanding90,000shares115,000sharesa. Determine the earnings per share for 20Y5 and 20Y6. Round to two decimal places.
Additional Data: Average shareholders' equity Average number of shares outstanding Dividends paid O $17.95. O $2.00. O $18.76. O $19.66. Net Income Interest expense Average Total assets The EPS for WLL Ltd. is Common Preferred $1516000 $124000 104000 322000 52000 $2045000 $22700 $2598000 94300
Using the following balance sheet and income statement data, what is the earnings per share? $ Current assets Net income 38500 42000 Stockholders' Current liabilities 15400 78600 equity Average assets 161300 Total liabilities 43200 Total assets 126000 Average common shares outstanding was 15700. $ 5.01 $ 8.03 $ 2.68 $0.37
The company Flextseel provided the following information: Number of issued common shares 900,000 Net income $1,000,000 Number of authorized common shares 1,000,000 Weightrd average number of outstanding common shares, 800,000 Number of treasury shares, 100,000 How much is earnings per share (EPS)? $1.25 $1.43 $1.00 $1.11
Stockholders' equity-common $391000 Total stockholders' equity Sales revenue Net income Number of shares of common stock Common stock dividends Preferred stock dividends 831000 O $1.70 O $1.60 O $1.00 405000 82000 47500 27000 6000 What is the earnings per share for Vaughn?

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