FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Question
Ecker Company reports $1,825,000 of net income for 2017 and declares $255,500 of cash dividends on its
1. What amount of net income is available to common stockholders for 2017?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 3 steps
Knowledge Booster
Similar questions
- Calculate the P/R for (WMT) as of November 14, 2017, when the company's stock price closed at $91.09.2 The company's profit for the fiscal year ending January 31, 2017, was US$13.64 billion, and its number of shares outstanding was 3.1 billion.arrow_forwardAt December 31, 2017 and 2018, Funk and Noble corporation had outstanding 760 million shares of common stock and 7 million shares of 4%, 100 par value cumulative perferred stock. No dividentds were declared on either the preferred or common stock in 2017 or 2018. Net income for 2018 was 788 million. the income tax rate is 40 percent. Calculate earning per share for the year ended December 31, 2018?arrow_forwardSelected financial information for CraneCorporation as of December are presented below. 2014 2013 Current assets $104,640 $80,080 Current liabilities 43,680 36,400 Stockholders’ equity 124,800 110,240 Total assets 312,000 280,800 Net sales and net income for 2014 were $468,000 and $37,440 respectively. Dividends of $4,160 were declared for common stockholders and $6,240for preferred shareholders in 2014. Preferred stockholders' equity is equal to 10% of total stockholders' equity.Compute the indicated ratios at December 31, 2014, or for the year ended December 31, 2014, as appropriate. (Round answers to 2 decimal places, e.g. 2.12.) 1. Return on assets enter percentages rounded to 2 demical places % 2. Profit margin enter percentages rounded to 2 demical places % 3. Payout ratio enter percentages rounded to 2 demical places % 4. Debt assets ratio enter percentages…arrow_forward
- Crystal Arts, Inc., had earnings of $291,600 for 2016. The company had 30,000 shares of common stock outstanding during the year. In addition, the company issued 1,800 shares of $150 par value preferred stock on January 3, 2016. The preferred stock has a dividend of $7 per share. There were no transactions in either common or preferred stock during 2016. Determine the basic earnings per share for Crystal Arts. Round answer to two decimal places.arrow_forwardMetlock Corporation had 2017 net income of $1,001,000. During 2017, Metlock paid a dividend of $2 per share on 43,250 shares of preferred stock. During 2017, Metlock had outstanding 295,000 shares of common stock.Compute Metlock’s 2017 earnings per sharearrow_forwardPresented below are data for Caracas Corp. 2017 2018 Assets, January 1 $6,840 ? Liabilities, January 1 ? $4,104 Stockholders' Equity, Jan. 1 ? $4,125 Dividends 855 969 Common Stock 912 975 Stockholders' Equity, Dec. 31 ? 3,399 Net Income 1,026 ? Net income for 2018 is... $243 loss. $726 income. $180 income. $726 loss. Please show work.arrow_forward
- In 2017 Pedroni Corporation reported net income of $1,000,000. It declared and paid preferred stock a dividend of $250,000. During 2017, Pedroni had a weighted average of 190,000 shares outstanding. Compute Pedroni's Earnings Per Share.arrow_forwardMarutzky Corporation had a net income of $2,200,000 for the year 2018. On January 1, 2018, the corporation had 300,000 shares of common stock outstanding and issued an additional 250,000 shares of common stock on October 1, 2018. Calculate the earnings per shares using the weighted-average number of common shares outstanding.arrow_forwardDomesticarrow_forward
- Stone Company reported net income of $4,500,000 in 2024. The weighted average number of common shares outstanding during 2024 was 200,000 shares. Stone paid $ 250,000 in dividends on preferred stock, which was convertible into 40,000 shares of common stock. How much is basic earnings per share for 2024?arrow_forwardTriumph's has 40,000 common shares outstanding during 2018. Requirement 1. Compute earnings per share (EPS) for 2018 for Triumph's. Round to the nearest cent. Requirement 2. Compute Triumph's Companies' price/earnings ratio for 2018. The market price per share of Triumph's stock is $15.00. Triumph's Companies Income Statement Years Ended May 31, 2018 and 2017 2018 2017 Net Sales Revenue $42,400 $41,100 Cost of Goods Sold 22,500 29,300 Interest Expense 400 320 All Other Expenses 6,700 7,800 Net Income $12,800 $3,680 Triumph's Companies Balance Sheet May 31, 2018 and 2017 Assets Liabilities 2018 2017 2018…arrow_forwardNeed Answer with This Question please provide this onearrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education