In 2023, Microsoft Corporation reported total revenue of $211.9 billion and total expenses of $145.5 billion. The company's effective tax rate for the year was 18%. Microsoft's beginning retained earnings balance was $75.2 billion. During the year, the company paid dividends of $19.5 billion to its shareholders. Microsoft also repurchased $30.8 billion worth of its own shares as part of its stock buyback program. What was Microsoft's ending retained earnings balance for 2023? Walmart Inc. reported total assets of $244.86 billion and total liabilities of $163.53 billion at the end of its fiscal year 2023. The company's total stockholders' equity at the beginning of the year was $87.53 billion. During the year, Walmart paid dividends of $6.15 billion to its shareholders. What was Walmart's net income for fiscal year 2023?

Marigold Corporation had net sales of $2,400,900 and interest revenue of $37,400 during 2020. Expenses for 2020 were cost of goods sold $1,466,300, administrative expenses $221,700, selling expenses $298,700, and interest expense $45,300. Marigold’s tax rate is 30%. The corporation had 100,000 shares of common stock authorized and 74,370 shares issued and outstanding during 2020. Prepare a single-step income statement for the year ended December 31, 2020. (Round earnings per share to 2 decimal places, e.g. 1.48.)

Edna Recording​ Studios, Inc., reported earnings available to common stock of ​$4,200,000last year. From those  earnings, the company paid a dividend of ​$1.28 on each of its 1,000,000 common shares outstanding. The capital structure of the company includes 30​% debt, 15​% preferred​ stock, and 55​% common stock. It is taxed at a rate of 21​%.   a.  If the market price of the common stock is ​$46 and dividends are expected to grow at a rate of 6​% per year for the foreseeable​ future, what is the​ company's cost of retained earnings financing​? b.  If underpricing and flotation costs on new shares of common stock amount to ​$7 per​ share, what is the​ company's cost of new common stock financing​? c.  The company can issue ​$2.01 dividend preferred stock for a market price of ​$34 per share. Flotation costs would amount to ​$4 per share. What is the cost of preferred stock financing​? d.  The company can issue ​$1,000​-par-value, 8​% annual​ coupon, 5​-year bonds that can be sold for…

In 2022, Cullumber Corporation had net sales of $600,000 and cost of goods sold of S 353,000. Operating expenses were $149, 000, and interest expense was $5,500. The corporation's tax rate is 20%. The corporation declared preferred dividends of $11,500 in 2022, and its average common stockholders' equity during the year was $182, 000. Prepare an income statement for Cullumber Corporation.

Rizzo Co. has Net Income of $279,000 for 2024. Over the past two years, the company had outstanding 125,000 shares of common stock.  During the year, the company paid dividends on preferred stock in the amount of $45,000.  The company has outstanding all year 20,000 shares of cumulative preferred stock.  Each share of preferred stock is convertible into 4 shares of common stock.  The company's tax rate is 20 percent. What is the company's diluted earnings per share?

Rizzo Co. has Net Income of $279,000 for 2024. Over the past two years, the company had outstanding 125,000 shares of common stock.  During the year, the company paid dividends on preferred stock in the amount of $45,000.  The company has outstanding all year 20,000 shares of cumulative preferred stock.  Each share of preferred stock is convertible into 4 shares of common stock.  The company's tax rate is 20 percent. What is the company's basic earnings per share?

Bonita Corporation earned net income of $443,000 in 2025 and had 110,000 shares of common stock outstanding throughout the year. Also outstanding all year was $700,000 of 5% bonds, which are convertible into 15,000 shares of common. Bonita's tax rate is 30 percent. Compute Bonita's 2025 diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) Diluted earnings per share $

At the beginning of 2025, Bridgeport Industries had 26,000 shares of common stock issued and outstanding and 500 of $1,000, 6% bonds (issued at par), each convertible into 10 shares of common stock. During 2025, Bridgeport had revenues of $152,000 and expenses other than interest and taxes of $111,000. Assume that the tax rate is 20%. None of the bonds was converted or redeemed. (a) Compute diluted earnings per share for 2025. (Round answer to 2 decimal places, e.g. 2.55.) Earnings per share $ (b) Assume the same facts as those assumed for part (a), except that the 500 bonds were issued on September 1, 2025 (rather than in a prior year), and none have been converted or redeemed. Compute diluted earnings per share for 2025. (Round answer to 2 decimal places, e.g. 2.55.) Earnings per share $ 1.06 Earnings per share $ 1.04 (c) Assume the same facts as assumed for part (a), except that 100 of the 500 bonds were actually converted on July 1, 2025. Compute diluted earnings per share for…

At the end of 2021, PT. Wardah International announced a gross profit of $1 million. The costs incurred during the year are as follows: $345,000 in operating expenses and $125,000 in interest expenses. 21% corporate tax and declared $57,000 total preferred stock dividends. Calculate: (a) Compute the earnings available for common stockholders? (b) Calculate the increase in retained earnings for 2021 If the firm provides $4.25 common stock dividend. The company has 15,000 shares of common stock outstanding.

Nash Corporation had net sales of $2,416,400 and interest revenue of $33,800 during 2020. Expenses for 2020 were cost of goods sold $1,458,000, administrative expenses $215,200, selling expenses $291,000, and interest expense $52,500. Nash’s tax rate is 30%. The corporation had 103,000 shares of common stock authorized and 73,570 shares issued and outstanding during 2020. Prepare a single-step income statement for the year ended December 31, 2020. (Round earnings per share to 2 decimal places, e.g. 1.48.)