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Mihok Corporation has provided the following financial data: Year 2 Year 1 Stockholders’ equity: Common stock, $3 par value $300,000 $300,000 Additional paid-in capital—common stock 100,000 100,000 Retained earnings 375,000 370,000 Total stockholders’ equity $775,000 $770,000 Income Statement For the Year Ended December 31, Year 2 Sales $1,380,000 Cost of goods sold 780,000 Gross margin 600,000 Operating expenses 567,714 Net operating income 32,286 Interest expense 18,000 Net income before taxes 14,286 Income taxes (30%) 4,286 Net income $10,000 Dividends on common stock during Year 2 totaled $5,000. The market price of common stock at the end of Year 2 was $0.97 per share. Required: A. What is the company’s earnings per share for Year 2? B. What is the company’s price-earnings ratio for Year 2? C. What is the company’s dividend payout ratio for Year 2? D. What is the company’s dividend yield ratio for Year 2? E. What is the company’s book value per share at the end of Year 2?
The Hernandez Company budgeted for an output of 50,000 units. Budgeted amounts were as follows: direct material, $100,000; direct labor, $50,000; variable factory overhead, $75,000; and fixed factory overhead, $100,000. Assuming a flexible budget,
The following list of transactions relates to a television repair business during the first month of business. Explain how each transaction affects the accounting equation.
Both non-deductible contributions to a traditional IRA and contributions to a Roth IRA are similar in the sense that neither provides a tax deduction at the date of contribution. Which of the two types would be most advantageous to taxpayers and why?
Fontaine and Monroe are forming a partnership. Fontaine invests a building that has a market value of $340,000; the partnership assumes responsibility for a $120,000 note secured by a mortgage on the property. Monroe invests $95,000 in cash and equip..
preparation of cash flows statement in indirect method.the comparative balance sheet of oak and tile flooring co. for
Prepare the journal entries to record the above events in the accounts of S&X. Prepare the closing entries for the month of November. Assume that after closing all of the revenue and expense accounts, the Income Summary account has a balance of $5,00..
Prepare a statement of cash flows for the year 2012 and compute the current ratio (current assets 4 current liabilities) as of January 1, 2012, and December 31, 2012, and compute free cash flow for the year 2012.
An auditor’s study and evaluation of the internal accounting control system made in connection with an annual audit is usually not sufficient to express an opinion on an entity’s system because. The evaluation of weaknesses is subjective enough that ..
Months of January and February, Axe Corporation purchased goods from three sup- sequence of events was as follows: Purchased goods for $1,200 from Green with terms 2/10, n/30. Purchased goods from Munoz for $900 with terms 2/10, n/30. Paid Green in f..
Prepare a depreciation schedule for all four years of the asset's expected life using the straight-line depreciation method.
Determine the sales price assuming that Welch desires to earn a profit margin that is equal to 30 percent of the total cost of developingPrepare an income statement for 2014. Use the sales price developed in Requirement , making, and distributing the..
For the assembly department unit material cost is $18 and unit conversion cost is $12 . If there are 50,000 units in ending work in process 35% complete as to conversion costs and 75% material cost, what is the cost assigned to the ending inventory?
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