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During the year ended December 31, 2017, Gluco, Inc., split its stock on a 3-for-1 basis. In its annual report for 2016, the firm reported net income of $925,980 for 2016, with an average 268,400 shares of common stock outstanding for that year. There was no preferred stock.
Required:
a. What amount of net income for 2016 will be reported in Gluco’s 2017 annual report?
b. Calculate Gluco's earnings per share for 2016 that would have been reported in the 2016 annual report. (Round your answer to 2 decimal places.)
c. Calculate Gluco's earnings per share for 2016 that will be reported in the 2017 annual report for comparative purposes. (Round your answer to 2 decimal places.)
Fees for tax preparation are included in miscellaneous itemized deductions subject to the 2 percent of AGI limitation. Reimbursed employee business expenses are included in miscellaneous itemized deductions subject to the 2 percent of AGI limitation ..
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Several important assumptions underlie CVP analysis. Assumptions often help simplify and focus our analysis of sales and costs. A common application of CVP analysis is as a tool to forecast sales, costs, and income.
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The tax agency fund of Orange County collected $7,000,000 for a private school district; $3,000,000 for the county General Fund; and $5,000,000 for a town located in the County. County General Fund employees handle the collections, and a 2.5 percent ..
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Thelma thus selld the property to Paul (an unrelated party) for $65,000. On the next day, Paul sells the property to Sandy for the same amount. Is Thelma's realized loss of $55,000 deductible? Describe.
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