Prepare an income statement and compute earnings per share

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Question 1: Financial data of Sam's Furniture Store given below:

Sales $1.300,000

Depreciation Expense $70,000

Cost of Goods Sold $800,000

Interest Expense $30,000

Selling & Admin. Expense $140,000

Shares Outstanding 60,000

Taxes $70,000

Preferred Stock Dividend $5,000

Prepare an income statement and compute earnings per share.

Question 2. A. Low Carb Diet Supplement, Inc. has two divisions. Division A has a profit of $100,000 on sales of $2,000,000. Division B is only able to make $25,000 on sales of $300,000. Based on the profit margins (returns on sales), which division is superior?

B. Neon Light Company has $1,000,000 in assets and $600,000 of debt. It reports net income of $100,000. What is the return on assets and return on stockholder's equity?

Reference no: EM139580

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