Loose Leaf for Foundations of Financial Management Format: Loose-leaf
17th Edition
ISBN: 9781260464924
Author: BLOCK
Publisher: Mcgraw Hill Publishers
expand_more
expand_more
format_list_bulleted
Videos
Textbook Question
Chapter 2, Problem 16P
Elite Trailer Parks has an operating profit of
a. Calculate the earnings per share and the common dividends per share for Elite Trailer Parks.
b. What was the increase in retained earnings for the year?
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Baby Camels Inc. had the following data for the year ending 12/31/12: Net income = $1,500;
EBIT $3,225; Tax Rate = 45%; Total assets = $4,900; Short-term investments = $600;
=
Stockholders' equity = $2,000; Total debt = $1,900; and Total operating capital = $4,475.
What was its return on invested capital (ROIC)?
O 30.61%
33.52%
39.64%
65.82%
â—‹ 72.07%
Elite Trailer Parks has an operating profit or $200,000. Interest expense for the year was $10,000; preferred dividends paid were $18,750; and common dividends paid were $30,000. The tax was $61,250. The firm has 20,000 shares of common stock outstanding.
a. Calculate the earnings per share and the common dividends per share for Elite Trailer Parks.
b. What was the increase in retained earnings for the year?
Dog River Company has an operating profit of $259.000 Interest expense for the year was $21.600 preferred dividends paid were $23,650; and
common dividends paid were $58.800 The tax was $45.750 The Dog River Company has 40,000 shares of common stock outstanding
a. Calculate the EPS and the common dividends per share for Dog River Company (Round the final answers to 2 decimal places.)
b. What is the payout ratio? (Do not round intermediate calculations. Round the final answer
to the nearest whole number.)
c. What was the increase in retained earnings for the year?
d. If Dog's share price is $63.00 what is its price-earnings ratio (P/E)? (Do not round
intermediate calculations. Round the final answer to 2 decimal places.)
Price earning ratio (times)
$109,200
Payout ratio %
Choose...
Common dividends per share 1,47 ± 0.01
Choose...
Increase in retained earnings Choose....
EPS
A-alinland Fisheries Corp. anticipator post
÷
Chapter 2 Solutions
Loose Leaf for Foundations of Financial Management Format: Loose-leaf
Ch. 2 - Discuss some financial variables that affect the...Ch. 2 - What is the difference between book value per...Ch. 2 - Explain how depreciation generates actual cash...Ch. 2 - What is the difference between accumulated...Ch. 2 - How is the income statement related to the balance...Ch. 2 - Prob. 6DQCh. 2 - Explain why the statement of cash flows provides...Ch. 2 - What are the three primary sections of the...Ch. 2 - Prob. 9DQCh. 2 - Why is interest expense said to cost the firm...
Ch. 2 - Frantic Fast Foods had earnings after taxes of...Ch. 2 - Sosa Diet Supplements had earnings after taxes of...Ch. 2 - a. Swank Clothiers had sales of $383,000 and cost...Ch. 2 - Prob. 4PCh. 2 - Prob. 5PCh. 2 - Given the following information, prepare an income...Ch. 2 - Prob. 7PCh. 2 - Prob. 8PCh. 2 - Prepare an income statement for Virginia Slim...Ch. 2 - Prob. 10PCh. 2 - Stein Books Inc. sold 1,900 finance textbooks for...Ch. 2 - Lemon Auto Wholesalers had sales of $1,000,000...Ch. 2 - Prob. 13PCh. 2 - Fill in the blank spaces with categories 1 through...Ch. 2 - Arrange the following items in proper balance...Ch. 2 - Elite Trailer Parks has an operating profit of...Ch. 2 - Quantum Technology had $669,000 of retained...Ch. 2 - Botox Facial Care had earnings after taxes of...Ch. 2 - Stilley Corporation had earnings after taxes of...Ch. 2 - Prob. 20PCh. 2 - The Rogers Corporation has a gross profit of...Ch. 2 - Nova Electrics anticipates cash flow from...Ch. 2 - Prob. 23PCh. 2 - Prob. 24PCh. 2 - Prob. 25PCh. 2 - Prob. 26PCh. 2 - For December 31, 20X1, the balance sheet of Baxter...Ch. 2 - Refer to the following financial statements for...Ch. 2 - Now click on “Balance Sheet� and compute the...Ch. 2 - Prob. 4WE
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.Similar questions
- 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.)arrow_forwardJuroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Refer to the information for Juroe Company on the previous page. Also, assume that Juroes total assets at the beginning of last year equaled 17,350,000 and that the tax rate applicable to Juroe is 40%. Required: Note: Round answers to two decimal places. 1. Calculate the average total assets. 2. Calculate the return on assets.arrow_forwardAlbion Inc. provided the following information for its most recent year of operations. The tax rate is 40%. Required: 1. Compute the following: (a) return on sales, (b) return on assets, (c) return on stockholders equity, (d) earnings per share, (e) price-earnings ratio, (f) dividend yield, and (g) dividend payout ratio. 2. CONCEPTUAL CONNECTION If you were considering purchasing stock in Albion, which of the above ratios would be of most interest to you? Explain.arrow_forward
- Brunleigh Corporation earned net income of $200,000 this year. The company began the year with 10,000 shares of common stock and issued 5,000 more on April 1. They issued $7,500 in preferred dividends for the year. What is Brunleigh Corporations weighted average number of shares for the year?arrow_forwardErrol Corporation earned net income of $200,000 this year. The company began the year with 10,000 shares of common stock and issued 5,000 more on April 1. They issued $7,500 in preferred dividends for the year. What is the numerator of the EPS calculation for Errol?arrow_forwardThe following information relates to the operations of Branded Ltd. The net profit after tax was $1,000,000. The company distributed ordinary dividends of $600,000 to its shareholders. Over the year, weighted average number of ordinary shares were 2,000,000. Ordinary shares are currently selling for $8.00 per share. What is the price-earnings ratio of the company?   12 times   20 times   15 times   16 timesarrow_forward
- Tibbs Inc. had the following data for the most recent year: Net income = $300; Net operating profit after taxes (NOPAT) = $380; Total assets = $2,500; Short-term investments = $200; Stockholders' equity = $1,800; Total debt = $700; and Total operating capital = $2,300. What was its return on invested capital (ROIC)? Select the correct answer.  a. 16.92%   b. 16.52%   c. 17.12%   d. 16.72%   e. 16.32%arrow_forwardthe income statement for Stretch-Tape Corporation reports net sales of $439,900 and net income of $54,780. Average total assets for the year are $830,000. Stockholders’ equity at the beginning of the year was $530,000, and $23,000 was paid to stockholders as dividends during the year. There were no other stockholders’ equity transactions that occurred during the year.Required:Calculate the return on assets, profit margin, asset turnover, and return on equity ratios. (Round your answers to 1 decimal place.)   Profitability Ratios Return on assets 6.6 % Profit margin 12.5 % Asset turnover  times Return on equity  %arrow_forwardSanta, Inc. recently reported that its earnings per share were $3.00.  The company has 200,000 shares of stock outstanding.  Interest expense was $550,000.  The corporate tax rate is 50%.  What is the company’s operating income (EBIT)?arrow_forward
- For the most recent year, Camargo, Incorporated, had sales of $574,000, cost of goods sold of $250,780, depreciation expense of $65,400, and additions to retained earnings of $77,800. The firm currently has 25,000 shares of common stock outstanding and the previous year's dividends per share were $1.54. Assuming a 25 percent Income tax rate, what was the times Interest earned ratlo? Note: Do not round Intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Times interest earned timesarrow_forwardThe following information relates to the operations of Branded Ltd. The net profit after tax was $1,000,000. The company distributed ordinary dividends of $600,000 to its shareholders. Over the year, weighted average number of ordinary shares were 2,000,000. Ordinary shares are currently selling for $8.00 per share. What is the earning per share for the company?   0.20.   0.33.   0.40.   0.50.arrow_forwardBonita Co. invested $910,000 in Windsor Co. for 25% of its outstanding stock. Windsor Co. pays out 30% of net income in dividends each year.Use the information in the following T-account for the investment in Windsor to answer the following questions. Investment in Windsor Co. 910,000  99,000    29,700 (a) How much was Bonita Co.’s share of Windsor Co.’s net income for the year? Net income  $enter Bonita’s net income in dollars (b) What was Windsor Co.’s total net income for the year? Total net income  $enter the total net income of WindsorCo. for the year (c) What was Windsor Co.’s total dividends for the year? Total Dividends  $enter the total dividends of WindsorCo. for the year (d) How much was Bonita Co.’s share of Windsor Co.’s dividends for the year? Dividends  $enter the dollar amount of dividends for Bonita Co.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Managerial Accounting: The Cornerstone of Busines...AccountingISBN:9781337115773Author:Maryanne M. Mowen, Don R. Hansen, Dan L. HeitgerPublisher:Cengage Learning
Principles of Accounting Volume 1AccountingISBN:9781947172685Author:OpenStaxPublisher:OpenStax College
EBK CONTEMPORARY FINANCIAL MANAGEMENTFinanceISBN:9781337514835Author:MOYERPublisher:CENGAGE LEARNING - CONSIGNMENT
Managerial Accounting: The Cornerstone of Busines...
Accounting
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax College
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:9781337514835
Author:MOYER
Publisher:CENGAGE LEARNING - CONSIGNMENT
Dividend explained; Author: The Finance Storyteller;https://www.youtube.com/watch?v=Wy7R-Gqfb6c;License: Standard Youtube License