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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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In the balance of payments accounts, goods and financial assets that migrants bring to a country are included in the import and export of visible items and financial exchange respectively.

The balance of payments summarizes an economy's international economic dealings. These transactions consist of transfer payments as well as the export and import of products, services, and financial assets (like foreign aid).

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1 year ago
QUESTION 1 When several alternative investment proposals of the same amount are being considered, the one with the largest net p
Yuri [45]

Answer:

The answer is option B) If the alternative proposals involve different amounts of investment, it is useful to prepare a relative ranking of the proposals by using a present value index.

Explanation:

Present Value Index is a used to measure the feasibility and efficiency of investment options.  It is the ratio of the Net Present Value of a project to the initial option required for it.

When several alternative investment proposals of the same amount are being considered, the one with the largest net present value is the most desirable.

However, If the alternative proposals involve different amounts of investment, it is useful to prepare a relative ranking of the proposals by using a present value Index.

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3 years ago
Colin has just received a delivery from the company's distribution center. He opens the containers and finds the popcorn and sna
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Answer:

Floor ready shipment

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3 years ago
Van Den Borsh Corp. has annual sales of $68,735,000, an average inventory level of $15,012,000, and average accounts receivable
pantera1 [17]

Answer:

The Cash Conversion Cycle is the number of days it takes management of a company to convert its inventory into cash on hand after its business transactions.  It is a useful metric for measuring the effectiveness of management, especially for companies with inventory of goods for sale.

CCC combines the days of inventory outstanding, accounts receivable outstanding, less accounts payable outstanding to obtain a value based on days.

Therefore, the net change in the Cash Conversion Cycle (CCC) in this scenario is the difference between the previous CCC and the new one based on the new proposals.

a) Days Inventory Outstanding or DIO = Average Inventory divided by Cost of Goods Sold (COGS)per day.  Cost of Goods Sold is 85% of sales.

DIO = $15,012,000 / $58,424,750 x 365 days = 94 days

b) Days Sales Outstand or DSO  = Average Accounts Receivable divided by Revenue per day.

DSO = $10,008,000 /$68,735,000 x 365 days = 53 days

c) Days Payable Outstanding or DPO = Average Accounts Payable divided by COGS

DPO = 30 days, as given in the question

d) CCC = DIO + DSO - DPO

CCC = 94 + 53 - 30 = 117 days

Based on the new proposals, the CCC is calculated as follows:

a) DIO = $15,012,000 - $1,946,000 / $58,424,750 x 365 days = 82 days

b) DSO = $10,008,000 - $1,946,000 /$68,735,000 x 365 days = 43 days

c) DPO = 40 days as given.

New CCC = 82+43-40 = 85 days.

Therefore, the net change in the cash conversion cycle is 117 - 85 days, i.e. = 32 days.

Explanation:

The CCC has decreased by 32 days in the new scenario.  This is an improvement worth pursuing by management.

CCC as a measure of management effectiveness is best obtained for many years in order to compare internally.

Another way it serves as a good measure is to compare the company's CCC with its competitors'.

8 0
3 years ago
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Answer:

a) A gain is subtracted from net income.

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Explanation:

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So, the following options are used-

a) A gain is subtracted from net income.

d) An increase in operating current assets is subtracted from net income.

e) A decrease in operating current liabilities is subtracted from net income.

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