Balance of the retained earnings at the beginning

Assignment Help Financial Management
Reference no: EM13809204

Steve Corp At Dec. 31, 2015

6% cumulative preferred stock $100 par. 10,000 shares authorized, 6,000 shares issued

common stock $3 par 500,000 shares authorized 300,000 shares issued and outstanding

additional paid in capital: preferred stock

addition paid in capital: common stock

Retained earnings

dividends have been declared and paid for 2015

Refer to the information above. The balance of the Retained Earnings at the beginning of the year was $950,000 and there were no dividends in arrears. Net income for 2015 was $980,000. What was the amount of dividend declared on each share of common stock during 2015?

a. 2.68

b. 2.00

c. 2.08

d. 2.50

Reference no: EM13809204

Questions Cloud

Balance is immaterial-confirmations are deemed ineffective : Audit standards indicate that there is a presumption that auditors will confirm accounts receivable unless the balance is immaterial, confirmations are deemed ineffective, or the auditors' assessment of risk is low and other procedures will achieve t..
Calculate the payback-profitability index-net present value : Using a 4.5% discount rate, calculate the Net Present Value, Payback, Profitability Index, and IRR for each of the investment projects below
The maintenance costs for a certain machine : The maintenance costs for a certain machine are $1,600.00 per year for the first 6 years and $2,400.00 per year for the next 7 years. At a interest rate of 6% per year, the present worth of the maintenance is closest to? Show work using factors in th..
Compute operating characteristics of customer waiting line : Agan Interior Design provides home and office decorating assistance to its customers. In normal operation, an average of 2.5 customers arrives each hour. Compute the operating characteristics of the customer waiting line, assuming Poissonarrivals and..
Balance of the retained earnings at the beginning : The balance of the Retained Earnings at the beginning of the year was $950,000 and there were no dividends in arrears. Net income for 2015 was $980,000. What was the amount of dividend declared on each share of common stock during 2015?
What is its weighted average cost of capital : A company has 100 million shares outstanding trading for $8 per share. It also has $900 million in outstanding debt. If its equity cost of capital is 15%, and its debt cost of capital is 12%, and its effective corporate tax rate is 40%, what is its w..
What is operating cash flow : XY Windows has a projected sales volume of $2864 for the second year of a proposed expansion project. Costs normally run 60% of sales, (or about $1718.40 in this case) the depreciation expense will be $90 and tax rate is 34%. What is operating cash f..
What is before-tax cost of capital for this debt financing : Black Hill Inc. sells $100 million worth of 21-year to maturity 8.91% annual coupon bonds. The net proceeds (proceeds after flotation costs) are $988 for each $1,000 bond. What is the before-tax cost of capital for this debt financing?
What is the after-tax WACC for the firm : A firm has $80 million in debt and 60% of its capital structure consists of common equity. The firm has no preferred stock. The firm’s bonds have YTM of 8.5%, and the firm is subject to a 30% corporate tax rate. The firm has common stock with a beta ..

Reviews

Write a Review

Financial Management Questions & Answers

  Foreign company acquisition

Acquisition by a foreign company and the effects of that decision and the results of foreign exchange in Euro and the exchange rate differences.

  Financial management for profit and non profit organizations

In this essay, we are going to discuss the issues of financial management in a non-profit organisation.

  Method for estimating a venture''s value

Evaluate venture's present value, cash and surplus cash and basic venture capital.

  Replacement analysis

This document show the Replacement Analysis of modling machine. Is replacement give profit to company or not?

  Business finance task - capital budgeting

Your company is considering using the payback period for capital-budgeting. Discuss the advantages and disadvantages of this technique.

  Analysis of the investment

In this project, you will focus on one of these: the additional cost resulting from the purchase of an apple press (a piece of equipment required to manufacture apple juice).

  Conduct a what-if analysis

Review the readings and media for this unit, including the Anthony's Orchard case study media. Familiarise yourself with the Anthony's Orchard company and its current situation.

  Determine operational expenditures

Organisations' behaviour is guided by financial data. In the short term, such data will help determine operational expenditures; in the long term, historical data may help generate forecasts aimed at determining strategic plans. In both instances.

  Personal financial management

How much will you have left over each half year if you adopt the latter course of action?

  Sources of finance for expansion into new foreign markets

A quoted company is considering several long-term sources of finance for expansion into new foreign markets.

  Long term financial planning

This assignment is designed for analyze Long term financial planning begins with the sales forecast and the key input in the long term fincial planning.

  Explain the role of fincial manager

This assignment explain the role of fincial manager, function of manger. And what are the motives of financial manager.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd