Current Attempt in Progress Metlock Corporation earned $2,825,000 during 2025. The company had a weighted-average of 495,000 shares of common stock outstanding. The average market price of common stock was $35 per share during the year. The company also had 45,000 warrants outstanding, of which two warrants could be exercised to purchase one share of common stock for $33 in total. (a) Are the warrants dilutive? (b) Compute basic earnings per share. (Round answer to 2 decimal places, e.g. 2.55.) Basic earnings per share $ (c) Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. 2.55.) Diluted earnings per share $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer
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- During the year 2021 a company earned P376,000 during a period when it had an average of 100,000 shares of common stock outstanding. The common stock sold at an average market price of P21 per share during the period. Also outstanding were 15,000 warrants that could be exercised to purchase one share of common stock for P14 for each warrant exercised. a.Are the warrants dilutive in nature? b. Find basic eps? c.Find diluted eps?Assume General Motors announced a quarterly profit of $119 million for 4th quarter 2022. Below is a portion of its balance sheet. Conduct a horizontal analysis of the following line items (rounding percent to nearest hundredth): LU 16-1(2) 2022 (dollars in millions) $ 15,980 Cash and cash equivalents Marketable securities Inventories Goodwill Total liabilities and equity 9,222 13,642 - $103,249 2021 (dollars in millions) $ 15,499 16,148 14,324 1,278 $144.603 Difference % CHGBeverly Company provides the following information for the year 2020: January 1 December 31 Total Assets P10,000,000 15,000,000 Total Liabilities 4,000,000 7,000,000 Share Capital 3,000,000 Share Premium 1,000,000 Retained Earnings ? ? During the year, the Company issued share capital of P2,000,000 at a premium of P400,000. Dividends of P1,600,000 were paid on December 10, 2020. Determine the amount of net income or loss for the year ended 2020 A. P1,200,000 income B. P1,800,000 loss C. P1,200,000 loss D. P1,800,000 income
- Larkspur Corporation earned $2,859,000 during 2020. The company had a weighted-average of 533,000 shares of common stock outstanding. The average market price of common stock was $31 per share during the year. The company also had 50,000 warrants outstanding, of which two warrants could be exercised to purchase one share of common stock for $29 in total.(a) Are the warrants dilutive?select an option (b) Compute basic earnings per share. (Round answer to 2 decimal places, e.g. 2.55.) Basic earnings per share $enter the basic earnings per share in dollar rounded to 2 decimal places (c) Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. 2.55.) Diluted earnings per share $enter the diluted earnings per share in dollar rounded to 2 decimal placesCompany ABC began its operations on January 2, 2022. The company had the following transactions during 2022: 1. On January 4, the company issued 120,000 shares of common stock to a group of investors for $3.00 per share with par value of $0.45 per share. 2. On May 1, it borrowed $20,000 from Bank of America, with interest rate of 12%. Interest on the loan is due on March 31, 2023, which is also the due date of the loan. 3. On July 1, the company acquired a new wireless networking equipment. The list price was $80,000. Because the company agreed to pay cash, it qualified for a discount of 8%. Payments for necessary transportation, software, licenses, and installation totaled $4,400. The company estimated a useful life of 5 years and a residual value of $8,000 for the equipment and used straight-line depreciation. 4. In December, the company declared a dividend of $0.03 per share, payable on April 15, 2023. 5. For the year, the company received cash payment of $137,000 from its…Rancho Cucamonga, Inc. presents the following excerpts from its December 31, 2020 balance sheet: Long-Term Liabilities: Note payable, 8% $200,000 Bonds payable, 10% 1,000,000 Shareholders’ Equity Common stock, par 50,000 Additional paid-in-capital, common stock 350,000 Total contributed capital 400,000 Retained earnings 250,000 Total shareholders’ equity 650,000 The accounting department also conveys the following information: Risk-free rate of return - 3% Risk premium - 4.05% Tax rate – 30% Requirement: Compute Rancho Cucamonga’s weighted average cost of capital.
- The financial statements of Friendly Fashions include the following selected data (in millions):($ in millions) 2021 2020Sales $ 10,043 $ 11,134Net income $ 312 $ 818Stockholders’ equity $ 1,850 $ 2,310Average shares outstanding (in millions) 675 –Dividends per share $ 0.31 –Stock price $ 6.20 –Required:1. Calculate the return on equity in 2021.2. Calculate the dividend yield in 2021.3. Calculate earnings per share in 2021.4. Calculate the price-earnings ratio in 2021.Problem 1 Burlington Corp. has a single class of shares. At its year end December 31, 2020, the company had 5,000,000 ordinary shares issued and outstanding. On the stock exchange, these shares were trading at around $7. In the company's accounts, these shares had a value of $50,000,000. The equity accounts also show $650,000 of contributed surplus from previous repurchases of shares as well as $30.000,000 of Retained Earnings. On January 15, 2021, Burlington repurchased and cancelled 250,000 shares at a cost of $7 per share. On August 20, 2021 the company repurchased and cancelled a further 475,000 shares at a cost of $14 per share. Required: Record the journal entries for the two share transactions in 2021.Assume General Motors announced a quarterly profit of $119 million for 4th quarter 2022. Below is a portion of its balance sheet. Conduct a horizontal analysis of the following line items. Note: Negative answers should be indicated by a minus sign. Round the "percent" answers to the nearest hundredth percent. Cash and cash equivalents Marketable securities Inventories Goodwill Total liabilities and equity 2022 (dollars in millions) $ $ 2021 (dollars in millions) 15,980 9,222 13,642 0 103,249 $ $ 15,499 16,148 14,324 1,278 144,603 Difference % Change
- Problem 1. Gene Company has a portfolio of trading securities as of December 31, 2020 as follows: Cost Fair Value 15,000 ordinary shares of Terry Co. P 477,000 P 417,000 30,000 ordinary shares of Gina Co. 546,000 570,000 P1,023,000 P 987,000 All of the above securities were purchased in 2020. The following transactions related to the securities occurred in 2021: Mar 1. Sold 15,000 shares of Terry Co. at P31 less brokerage commission of P4,500. Apr 1. Bought 1,800 shares of Wendy Co. at P45 plus commission, taxes, and other transaction costs of P1,650. On December 31, 2021, the Company’s investment portfolio appears as follows: Cost Fair Value 30,000 ordinary shares of Gina Co. P 546,000 P 580,000 1,800 ordinary shares of Wendy Co. 82,650 75,000 P 628,650 P 655,000 The fair values excludes the estimated transaction costs that would be incurred on the…Accounting Cherry Corporation had 600,000 shares of common stock outstanding during 2020. In addition, it had 80,000 stock options outstanding, which had been granted to certain executives on January 1, 2020, and which gave them the right to purchase shares of Cherry's stock at an option price of $40 per share. The average market price of Cherry's common stock for 2020 was $50. Net income was $1,000,000. a. Compute EPS. b. Compute DEPS. c. Compute DEPS assuming that the options were granted on September 1, 2020, not January 1. SHOW ALL WORK. Round to the nearest penny.The equity portions of a company's balance sheets for end of 2021 and 2022 are shown below: 2021 2022 $1,898,646 $3,818,440 $2,685,439 $6,714,937 $2,547,130 $7,242,627 Calculate the average price per share at which new shares were sold in 2022. Common Stock ($0.50 par) Capital Surplus Retained Earnings 0.78 1.55 0.50 O None of these options are correct 1.05