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sladkih [1.3K]
3 years ago
13

On January 1, 2021, Tonge Industries had outstanding 480,000 common shares ($1 par) that originally sold for $30 per share, and

6,000 shares of 10% cumulative preferred stock ($100 par), convertible into 60,000 common shares.
On October 1, 2021, Tonge sold and issued an additional 16,000 shares of common stock at $37. At December 31, 2021, there were 22,000 incentive stock options outstanding, issued in 2020, and exercisable after one year for 22,000 shares of common stock at an exercise price of $34. The market price of the common stock at year-end was $52. During the year, the price of the common shares had averaged $44.

Net income was $940,000. The tax rate for the year was 40%.

Required:

Compute basic and diluted EPS for the year ended December 31, 2021. (Enter your answers in thousands.)

Business
2 answers:
harkovskaia [24]3 years ago
8 0

Answer:

Basic EPS = $1.82

Diluted EPS = $1.72

Explanation:

The picture attached herewith shows the calculation to the problem and it is so explanatory.

ira [324]3 years ago
5 0

Answer:

842,000 shares

Explanation:

Please the solution to the given problem in the file attached below

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Evgesh-ka [11]

The elements that would have to be in place for a contract to be unconscionable would be that

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<h3>What is meant by a contract?</h3>

This is the term that is used to refer to the fact that two people or more have agreed to do business with themselves.

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It is unconscionable at the time when the contract is done and the person or one of the parties is found not to have been able to make the contract agreement at their right frame of mind. In this case, the law has the power to protect this party.

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1 year ago
Analytical skills give a manager the ability to identify problems creatively, generate _____ alternatives, and select the "best"
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reasonable

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3 years ago
From the following information, construct a simple income statement and a balance sheet:
yaroslaw [1]

Answer and Explanation:

The Preparation of the simple income statement and a balance sheet is shown below:-

                                   Corporation X

                                  Income Statement

                                 for the Year Ended xxxx

Particulars                                        Amount

Sales                                                $1,000,000

Less: Cost of goods sold               $500,000

Gross profit                                      $500,000

Less: Other expenses                     $60,000

EBIT                                                  $440,000

Less: Interest                                   $70,000

EBT                                                   $370,000

Less: Income tax                              $100,000

Net income                                       $270,000

Number of shares outstanding       $80,000

Earning per share                             $3.375

(Net income ÷ Number of shares outstanding)

                                   Corporation X

                                  Income Statement

                                 for the Year Ended xxxx

Particulars                                        Amount

Assets

Cash                                                $70,000

Accounts Receivable                     $150,000

Inventory

Raw Material                                   $80,000

Finished Goods                              $250,000

Total Current Assets                      $550,000

Plant & Equipment                          $410,000

Total Assets                                    $960,000

Liabilities

Accounts Payable                          $160,000

Other Current Liabilities                 $60,000

Total Current Liabilities                  $220,000

Long term Debt                              $200,000

Equity                                              $540,000

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If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.  

Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one

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8 0
3 years ago
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hammer [34]

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Since the optimum level of price is where marginal cost is equal to marginal revenue.

The marginal cost of production includes all costs that vary with that level of production. For example, if a company needs to build an entirely new factory to produce more goods, the cost of building the factory is the marginal cost.

Marginal Cost = Change in Total Cost / Change in Quantity. Change in Total Cost = Total Cost of Manufacturing Including Additional Units – Total Cost of Manufacturing Regular Units. Quantity Change = Full Quantity Product with Additional Units - Full Quantity Product in Regular Units.

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5 0
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