Reference no: EM132533355

Question -

Q1) The Common Stock account for Baltimore Corporation on January 1, 2018 was $75,000. On July 1, 2018 Baltimore issued an additional 9,500 shares of common stock. The Common Stock is $5 par. There was neither Preferred Stock nor any Treasury Stock. Paid in Capital Excess to par Common Stock was $20,000 on January 1 and $40,000 on July 2 and net income was $149,500. Use this information to determine for December 31, 2018 the amount of Earnings per Share.

Q2) For the FY 2018, Dorchester Company's balance sheet included the following current items: cash $35,000, accounts receivable $115,000, inventories $76,000, prepaid expenses $15,000, accounts payable $87,000, and accrued expenses $68,000. Use this information to determine the Current Ratio.