Ecker Company reports $1,825,000 of net income for 2017 and declares $255,500 of cash dividends on its preferred stock for 2017. At the end of 2017, the company had 290,000 weighted-average shares of common stock. 1. What amount of net income is available to common stockholders for 2017?

Ecker Company reports $1,825,000 of net income for 2017 and declares $255,500 of cash dividends on its preferred stock for 2017. At the end of 2017, the company had 290,000 weighted-average shares of common stock. 1. What amount of net income is available to common stockholders for 2017?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Retained earnings 65,590 48,000 The 2017 net income was $30,590, and the 20Y6 net income was…

A: Profitability ratios are a type of accounting ratio that helps in determining the financial…

Q: Additional information: • Weighted-average ordinary shares in 2017 were $60,000 QUESTIONS Based on…

A: Current Ratio: Formula: Current ratio = Current Assets / Current Liabilities = (Inventory + Accounts…

Q: On January 1, 2021, a company had 444,000 shares of common stock outstanding. During the year, it…

A: Weighted average no of shares = Opening outstanding shares + shares issued * period used /12 -…

Q: The following selected data were taken from the financial statements of The O'Malley Group Inc. for…

A: Return on total assets :— It is calculated by dividing income before interest by average total…

Q: alculate the payout ratio and return on common stockholders' equity ratio for 2012 and 2011.

Q: Waterway Corporation had wt ncoe of $200000 nd pd didends to common tclders of $25000 2017. the…

A: Dividend means the amount given to shareholder of the company as profit distribution by company.…

Q: a. What amount of net income for 2013 will be reported in Gluco's 2014 annual report? b. Calculate…

A: Requirement a: Compute the EPS.

Q: ROR Corporation's income statement for the year ended December 31, 2024 follows: (Click on the loon…

A: An income statement is a financial report that indicates the revenue and expenses of a business. It…

Q: Compute diluted earnings per share

A: Earnings per share is a financial measure that determines the residual earnings generated by each…

Q: On January 1, 2017 a company had the following data: Issued 5,000 shares of $1.00 par value common…

A: Cumulative preference shares give the shareholder a right to receive dividends that is not received…

Q: SW Company provides the Equity & Liability Information below for analysis. SW Company had net Income…

A: Equity returns in terms of percentage can be found by dividing the net income by the amount of…

Q: Kinley Inc. provides the following information for the year 2016: Net Income…

A: Earnings per share is the per share amount earned by the common shares of the entity. It is…

Q: On December 31, 2017, Crane, Inc. has 3800 shares of 6% $100 par value cumulative preferred stock…

A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…

Q: Gwinnett Park Co. reported net income of $253,300 for its fiscal year ended September 30, 2017. At…

A: Step 1:Computation of the weighted-average number of shares of common stock…

Q: The following information relates to SE11-8 through SE11-10: Evans & Sons, Inc., disclosed the…

A: “Since you have posted a question with multiple sub parts, we will provide the solution only to the…

Q: SW Company provides the Equity & Liability information below for analysis. SW Company had net and…

A: Ratio Analysis -The ratio is the technique used by the prospective investor or an individual or…

Q: yedrs of opelatiolns, itl Net income for 2017 $ 31,100 Net income for 2018 Dividends for 2017…

A: The shareholders' equity section represents the capital, net income, retained earnings that belongs…

Q: The stockholders’ equity accounts of Pearl Company have the following balances on December 31, 2017.…

Q: As of 2017, Buttle Corp. has $10 par, 2% preferred stock, 13,000 shares outstanding, and $1 par…

A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…

Q: Oil Services Corp. reports the following EPS data in its 2014 annual report (in millions except per…

A: The earning per share is calculated as net income divided by number of shares outstanding.

Q: The stockholders’ equity accounts of Pearl Company have the following balances on December 31, 2017.…

A: Retained earnings = Number of shares * Market price* Stock dividend rate Retained earnings =…

Q: a. Determine the return on total assets, the rate earned on stockholders' equity, and the return on…

A: Ratio analysis involves evaluating a company's financial health by interpreting relationships…

Q: Suppose the following information is available for Callaway Golf Company for the years 2018 and…

A: Earnings per share (EPS) are company’s profit which is divided by outstanding common stock per…

Q: FV Company earned net income of $75,000 during the year ended December 31, 2012. On December 15, FV…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: Bertram Corporation had net income of $325,000 and paid dividends to common stockholders of $50,000…

A: Dividend payout ratio is calculated by dividing the total dividend paid by the net income earned…

Q: What would the net income/loss be for the year using the following information? Please explain your…

A: A statement of stockholders equity is an essential part of the financial statements of the company.…

Q: Gonzalez Company reported net income of $2,600 million in 2016. The weighted average number of…

A: Basic earnings per share are the amount that represents the earnings allocable to each common share…

Q: on December 31, 2021. Avon, Inc has the following account balances pertaining to its stockholder’s…

A: Calculation of stockholders equity on Dec 31, 2021 are as follows

Q: Calculate return on equity for 2018 and 2019 (stockholders’ equity for 2017 was $134,047 million).

A: Ratio analysis is a method used to analyze financial statements by calculating and comparing various…

Q: Culver Corporation reported net income of $682,000 in 2017 and had 217,000 shares of common stock…

Q: Sealy Corporation had the following information in its financial statements for the years ended 2014…

A: Average common stockholders equity = (Beginning common stockholder's equity + Ending common…

Q: Mason Manufacturing had 600,000 shares of common stock outstanding and 150,000 shares of $100 par…

A: A financial indicator called weighted average shares outstanding is used to determine the average…

Q: Financial Statement data for the years ended December 31st for the Top Corporation follow: 2018 2017…

A: Earnings per share = (Net income - preferred dividend)/ number of shares

Q: Gardenia, Inc. started in business in 2017 when it issued $2,000 of common stock. It has reported…

A: Retained earnings balance at the end of 2020 = Total net income earned - total dividend paid…

Q: i need answer step by step

A: Step 1:Answer a.Computation of the earnings per share:Earnings per share for Year 20Y5 = (Net…

Question

Ecker Company reports $1,825,000 of net income for 2017 and declares $255,500 of cash dividends on its preferred stock for 2017. At the end of 2017, the company had 290,000 weighted-average shares of common stock.

1. What amount of net income is available to common stockholders for 2017?

Definition Definition Type of stock which is granted priority over dividend distributions as compared to common stockholders. Preferred stocks also do not carry any voting rights. Notably, in a case where a company is going to be liquidated, preferred stockholders have a priority claim on the value of assets of the company as quoted in the balance sheet, as compared to the common stockholders.

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!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Compute the Total Earnings per Share for 2017.
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.
Talaat Corporation had retained earnings at January 1, 2017, of $950,000. the Corporation had 500,000 shares of $ 2.5 par value common stock outstanding throughout 2017. Net income for 2017 was $520,000. The following transactions occurred during 2017: July 1 A cash dividends of $0.5 per share was declared to stockholders of record on July 20. Aug. 1 Paid the cash dividends. Nov. 1 A 7% stock dividends was declared. The market price at the declaration date was $9 per share. Dec. 15 Distributed the stock dividends shares. Required: Journalize the 2017 dividends transactions. Prepare a retained earnings statement for 2017.
At 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?
Selected 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…
Refer to Apple’s fiscal 2017 balance sheet. How many shares of common stock are authorized? How many shares of common stock are issued and outstanding?
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.
Metlock 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 share
Presented 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.
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.
Marutzky 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.
Domestic