Corral Limited, a publicly traded company, reported profit of $249,750 on its October 31 year-end income statement. The shareholders' equity section of its balance sheet reported 3,000, $2 noncumulative preferred shares and 50,000 common shares. At the beginning of the fiscal year, 40,000 had been issued,15,000 more were issued on March 1, and 5,000 were repurchased on August 1. The preferred dividend was declared and paid during the year. The market price per share on October 31 was $40. (a) Calculate weighted average (b) Calculate Corral's earnings per share. (c) Calculate Corral's price-earnings ratio.

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Corral Limited, a publicly traded company, reported profit of $249,750 on its October 31 year-end income statement. The shareholders' equity section of its balance sheet reported 3,000, $2 noncumulative preferred shares and 50,000 common shares. At the beginning of the fiscal year, 40,000 had been issued,15,000 more were issued on March 1, and 5,000 were repurchased on August 1. The preferred dividend was declared and paid during the year. The market price per share on October 31 was $40.

(a) Calculate weighted average

(b) Calculate Corral's earnings per share.

(c) Calculate Corral's price-earnings ratio.

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