Calculate the earnings per share (average of 418,000 shares outstanding for the year) for 2020. (Round answer to 2 decimal places, e.g. 2.55.)earnings per share$2.31per shareCalculate the price/earnings ratio (market price of $48 at year-end) for 2020. (Round answer to 1 decimal place, e.g. 2.5.)Price/earnings ratio20.8Calculate the dividend payout ratio (dividends of $1.25 per common share for the year) for 2020. (Round answer to 1 decimal place, e.g. 2.5.)Dividend payout ratio?%*I thought the answer was 47.9%, but it says it is not correct!? Sheridan Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet andincome statement for 2019 and 2020 follow.Sheridan MedicalComparative Balance SheetAs of December 3120202019AssetsCurrent assetsCash$391,000$417,400Accounts receivable, net1,018,000776,500Inventory720,000681,050Other current assets381,350247,050Total current assets2,510,3502,122,000Property, plant, & equipment, net8,717,1858,440,050Total assets$11,227,535$10,562,050Liabilities and Stockholders' EquityCurrent liabilities$3,167,000$2,846,100Long-term debt3,702,6003,892,700Total liabilities6,869,6006,738,800Preferred stock, $5 par value58,95058,950Common stock, $0.25 par value104,650103,900Retained earnings4,194,3353,660,400Total stockholders' equity4,357,9353,823,250Total liabilities and stockholders' equity$11,227,535$10,562,050 Sheridan MedicalComparative Income Statement and Statement of Retained EarningsFor the Year20202019Sales revenue (all on account)$10,177,250$9,614,000Cost of goods sold5,612,6505,298,700Gross profit4,564,6004,315,300Operating expenses2,840,2502,634,150Net operating income1,724,3501,681,150Interest expense300,300308,650Net income before taxes1,424,0501,372,500Income taxes (30%)427,215411,750Net income$996,835$960,750Dividends paidPreferred dividends29,45029,550Common dividends433,450413,100Total dividends paid462,900442,650Net income retained533,935518,100Retained earnings, beginning of year3,660,4003,142,300Retained earnings, end of year$4,194,335$3,660,400

Name: Calculate the earnings per share (average of 418,000 shares outstandin
Uploaded: 2022-11-22T13:58:24.000Z
Channel: Bartleby
Description: Calculate the earnings per share (average of 418,000 shares outstanding for the year) for 2020. (Round answer to 2 decimal places, e.g. 2.55.)earnings per share$2.31per shareCalculate the price/earnings ratio (market price of $48 at year-end) for 202

Earnings per share (EPS) is a calculation that indicates how profitable a firm is per share of its…

Business

Accounting

Calculate the earnings per share (average of 418,000 shares outstanding for the year) for 2020. (Round answer to 2 decimal places, e.g. 2.55.) earnings per share $ 2.31 per share Calculate the price/earnings ratio (market price of $48 at year-end) for 2020. (Round answer to 1 decimal place, e.g. 2.5.) Price/earnings ratio 20.8 Calculate the dividend payout ratio (dividends of $1.25 per common share for the year) for 2020. (Round answer to 1 decimal place, e.g. 2.5.) Dividend payout ratio ? % *I thought the answer was 47.9%, but it says it is not correct!?

Calculate the earnings per share (average of 418,000 shares outstanding for the year) for 2020. (Round answer to 2 decimal places, e.g. 2.55.) earnings per share $ 2.31 per share Calculate the price/earnings ratio (market price of $48 at year-end) for 2020. (Round answer to 1 decimal place, e.g. 2.5.) Price/earnings ratio 20.8 Calculate the dividend payout ratio (dividends of $1.25 per common share for the year) for 2020. (Round answer to 1 decimal place, e.g. 2.5.) Dividend payout ratio ? % *I thought the answer was 47.9%, but it says it is not correct!?

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter12: Liabilities: Off-balance-sheet Financing, Retirement Benefits, And Income Taxes

Section: Chapter Questions

Problem 22E

See similar textbooks

Similar questions

Calculate the price/earnings ratio (market price of $48 at year-end) for 2020. (Round answer to 1 decimal place, e.g. 2.5.) Matthias MedicalComparative Balance SheetAs of December 31 2020 2019 Assets Current assets Cash $397,220 $417,400 Accounts receivable, net 906,800 776,400 Inventory 743,000 681,000 Other current assets 381,300 247,000 Total current assets 2,428,320 2,121,800 Property, plant, & equipment, net 8,678,000 8,440,100 Total assets $11,106,320 $10,561,900 Liabilities and Stockholders’ Equity Current liabilities $2,934,700 $2,846,000 Long-term debt 3,700,600 3,892,600 Total liabilities 6,635,300 6,738,600 Preferred stock, $5 par value 58,900 58,900 Common stock, $0.25 par value 104,600 103,800 Retained earnings 4,307,520 3,660,600 Total stockholders’…
Presented below are the year-end balance of the assets and liabilitiespertaining to Starlight Merchandising 2020 2019Cash P150,000 P120,000Equity investment at FVPL 260,000 230,000AR, net 360,000 400,000Inventories 705,000 635,000Prepaid Expenses 130,000 128,000Accounts payable 182,000 136,000Other current liabilities 141,000 125,000Bonds Payable 200,000 200,000Additional investment made by the owner during 2020 was P150,000 but a P200,000 personal liability was paid out of company's funds. What is the company's profit or loss for the year ended December 31, 2020? 30,000 800,000 Answer not given 140,000 700,000
Smile JungkookCompany reported the following balances at the end of each year: 2020 2019 InventoryP2,600,000 P2,900,000 , Accounts Payable 750,000 500,000 The entity paid suppliers P4,900,000 during the year ended December 31, 2020.What should be the amount to be reported for cost of goods sold in 2020?
Orlando Medical’s current ratio at year-end 2018 is closest toa. $735.b. $8,578.c. 0.94.d. 1.2.
1. Compute for the financial health ratios of the company for 2019 C.Financial Health/ (Solvency and Liquidity) Solvency ratio: d. Interest Coverage Ratio Liquidity ratio: a. Current Ratio b. Quick Ratio
The following table shows data for Tommy Bourke Health Centre for the past 5 years ending the 31 December 2020 2020 2019 2018 2017 2016 Net $19,500 $17,400 $18,200 $16,500 $14,900 Sales COGS 9,500 10,300 9,500 8,900 8,000 Inventory 13,000 12,200 8,700 9,500 9,300 Net A/R 7,500 6,800 7,200 7,000 6,500 Assume 2016 is the base year. What is the trend % in Net Accounts Receivable in 2018? Select one: a. 104.62 b. 107.69 c. 110.77 O d. 100
Prepare a vertical analysis scheduleHere is the operating data for Yalis Cleaning, Inc.:2021 2020Service revenue $523,000 $476,000Operating expenses 385,500 319,800Income tax expense 34,375 39,050Net income $103,125 $117,150PurposeThe purpose of this problem is to demonstrate an understanding of preparing a vertical analysis schedule.InstructionsAfter analyzing the transactions, prepare a vertical analysis schedule for the company for 2021 and 2020 using service revenueas the base amount. Round percentages to two decimal places.GuidanceFor formatting guidance, see the vertical analysis examples that are provided in Chapter 13 of the textbook.
Using the information provided below:Rubialac PaintsSelected Income Statement Items, 2020Cash Sales $2,500,000Credit Sales $9,500,000Total Sales $12,000,000COGS 7,000,000 Rubialac PaintsSelected Balance Sheet Accounts12/31/2020 12/31/19 ChangeAccounts Receivable $550,000 $400,000 $150,000Inventory $275,000 $250,000 $25,000Accounts Payable $150,000 $110,000 $40,000 What is the inventory turnover for Rubialac Paints? What is the average production cycle for the firm? What is the average collection cycle? What could Eagle Paints do to reduce the average collection cycle?
Prepare A Classified balance sheet, in report format, at June 30, 2020. READY HOSPITAL SUPPLIES ADJUSTED TRIAL BALANCE AS AT JUNE 30, 2020 ACCOUNT DEBIT CREDIT 1 Cash 127,000 2 A/c receivables 151,000 3 Allowance for bad debt 19,500 4 Prepaid insurance 48,000 5 Merchandise inventory 186,000 6 Store supplies 25,000 7 Prepaid rent 14,000 8 Furniture and fixtures 800,000 9 Accumulated depreciation-furniture & fixtures 320,000 10 Computer equipment 450,000 11 Accumulated depreciation-computer equipment 21,000 12 Interest payable 36,000 13 Accounts payable 133,500 14 Salaries payable 14,000 15 Unearned sales revenue 34,000 16 Portion of loan 90,000 17 Long term loan 270,000 18 Eva Ready Capital 898,500 19 Eva Ready Withdrawals 104,000 20 Sales revenue 1,091,000 21 Gain on computer equipment 14,000 22 Interest expense 36,000 23 Sales discount 7,000 24 Insurance expense 24,000 25…
The following information is available from the annualreport of Frixell, Inc.: Currentliabilities . . . . $300,000Operatingincome . . . . . 240,000Net income . . . . 80,000 Currentassets . . . . $ 480,000Average totalassets . . . . 2,000,000Average totalequity . . . . 800,000Which of the following statements are correct? (More thanone statement may be correct.)a. The return on equity exceeds the return on assets.b. The current ratio is 0.625 to 1.
After analyzing the transactions, prepare a vertical analysis schedule for the company for 2021 and 2020 using service revenue as the base amount. Round percentages to two decimal places. Here is the operating data for Yalis Cleaning, Inc.: 2021 2020Service revenue $523,000 $476,000Operating expenses 385,500 319,800Income tax expense 34,375 39,050Net income $103,125 $117,150
An examination of Insurance Policies of Standard Company is presented below: Policy Date of Purchase Life of Policy Cost September 1, 2019 4years P25,920 May 1, 2020 2years 18,960 July 31, 2020 1year 9,720 Prepaid Insurance was debited for the cost of each policy at the time of its purchase. Expired insurance was correctly recorded at the end of 2019. What is the balance of Prepaid Insurance at the end of 2020?