Question : 101. Based the following information, what earnings per share? Common shares outstanding : 1234214

 

101. Based on the following information, what is earnings per share? 

Common shares outstanding at the beginning

 

  of the accounting period

210,000

Common shares outstanding at the end of the

 

  accounting period

230,000

Weighted-average common shares outstanding

 

  during the period

220,000

Preferred stock dividend declared and paid

$  70,000

Preferred stock dividend in arrears

$  20,000

Net income

$500,000

 

 

 A. $1.9545B. $1.8696C. $2.3810D. $2.2727

102. The balance sheets at the end of each of the first two years of operations indicate the following: 

 

2007

2006

Total current assets

$250,000

$225,000

Total investments

50,000

25,000

Total fixed assets

450,000

300,000

Total current liabilities

100,000

37,500

Total long-term liabilities

200,000

112,500

Preferred 9% stock, $100 par

50,000

50,000

Common stock, $10 par

250,000

250,000

Paid-in capital in excess of par-

 

 

  common stock

25,000

25,000

Retained earnings

125,000

125,000

 

 

 

If net income is $50,000 and interest expense is $20,000 for 2007, what are the earnings per share on common stock for 2007? A. $1.82B. $2.00C. $2.80D. $1.20

103. The following information is available for Spellman Corporation: 

 

2006

Market price per share of common stock

$30.00

Earnings per share on common stock

4.00

 

 

Which of the following statements is correct? A. The price-earnings ratio is 7.5 and a share of common stock was selling for 7.5 times the amount of earnings per share at the end of 2006.B. The price-earnings ratio is 13.3% and a share of common stock was selling for 13.3% more than the amount of earnings per share at the end of 2006.C. The price-earnings ratio is 7.5 and a share of common stock was selling for 150 times the amount of earnings per share at the end of 2006.D. The market price per share and the earnings per share are not statistically related to each other.

104. For the year that just ended, a company reports net income of $3,200,000. There are 750,000 shares authorized, 600,000 shares issued, and 500,000 shares of common stock outstanding. What is the earnings per share? A. $6.40B. $3.20C. $5.33D. $3.33

105. A corporation with convertible preferred stock and stock options outstanding should disclose A. earnings per shareB. primary earnings per shareC. fully diluted earnings per shareD. primary earnings per share and fully diluted earnings per share

106. The balance sheets at the end of each of the first two years of operations indicate the following: 

 

2007

2006

Total current assets

$250,000

$225,000

Total investments

50,000

25,000

Total fixed assets

450,000

300,000

Total current liabilities

100,000

37,500

Total long-term liabilities

200,000

112,500

Preferred 9% stock, $100 par

50,000

50,000

Common stock, $10 par

250,000

250,000

Paid-in capital in excess of par-

 

 

  common stock

25,000

25,000

Retained earnings

125,000

125,000

 

 

 

If net income is $80,000 and interest expense is $20,000 for 2007, what are the earnings per share on common stock for 2007? A. $2.91B. $3.02C. $2.75D. $3.20

107. For the year that just ended, a company reports net income of $3,200,000. There are 750,000 shares authorized, 700,000 shares issued, and 600,000 shares of common stock outstanding. What is the earnings per share? A. $6.40B. $4.27C. $4.57D. $5.33

108. For the year that just ended, a company reports net income of $2,200,000. There are 750,000 shares authorized, 700,000 shares issued, and 600,000 shares of common stock outstanding. What is the earnings per share? A. $4.40B. $3.14C. $4.57D. $3.67

109. Which of the following would be involved in the computation of earnings per share for a company with a simple capital structure? A. Weighted average number of share outstandingB. Shares outstanding at end of year whether or not the number has changed during the yearC. Number of shares of preferred stock outstandingD. Dividends declared on common stock

110. The Lange Company has a simple capital structure. The company has 20,000 shares of common stock outstanding. Net income for the year was $65,000. Lange declared and paid a preferred stock dividends of $4,000 during the year. Earnings per share for the year is: A. $3.25B. $.125C. $3.05D. $3.45

 

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