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ella [17]
3 years ago
5

At December 31, 2017, Sager Co. had 1,200,000 shares of common stock outstanding. In addition, Sager had 450,000 shares of prefe

rred stock which were convertible into 750,000 shares of common stock. During 2018, Sager paid $1,200,000 cash dividends on the common stock and $800,000 cash dividends on the preferred stock. Net income for 2018 was $6,800,000 and the income tax rate was 40%. The diluted earnings per share for 2018 is (rounded to the nearest penny
Business
1 answer:
AnnZ [28]3 years ago
8 0

Answer: $3.49

Explanation:

Diluted earnings per share = \frac{Net Income}{Outstanding Common Stock + Convertible shares}

Diluted Earnings per share = \frac{6,800,000}{1,200,000 + 750,000}

Diluted Earnings per share = 3.4871

Diluted Earnings per share = $3.49

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When the police arrest someone today, they don't have to follow certain agreed-upon procedures such as due process ?
OLEGan [10]
When the police arrest someone, they take away that person's fundamental right to freedom. Consequently, there are several procedures the police must follow before they can make a legal arrest so that our rights remain protected. This article has some information about the general requirements police must meet before making an arrest.
5 0
3 years ago
Sebastian received a raise this year so his income climbed from $45,000 to $52,000. Last year Sebastian purchased 2 sunglasses.
sveticcg [70]

Answer:

normal good

elastic demand

Explanation:

Income elasticity of demand measures the responsiveness of quantity demanded to changes in income.

Income elasticity = percentage change in quantity demanded / percentage change in income

percentage change in quantity demanded = (7/2) - 1 = 250%

percentage change in income = (52,000 / 45,000) - 1 = 15.6%

250 / 15.6 =  16.07

If the absolute value of income elasticity of demand is greater than one, it means demand is elastic.

Normal goods are goods that are goods whose demand increases when income increases and falls when income falls

Inferior goods are goods whose demand falls when income rises and increases when income falls.

5 0
2 years ago
The Corner Grocer has a 7-year, 6 percent annual coupon bond outstanding with a GHS 1,000 par value. The bond has a yield to mat
Amanda [17]

The increase of yield to maturity to 6.5% would reduce bond price by 5.43%

What is bond price?

The bond price is the present value of annual coupons over the bond life of 7 years and the face value payable to bondholders at bond maturity discounted at the yield to maturity of the bond.

We can determine the bond prices with yield to maturity of 5.5% and with 6.5% yield to maturity using a financial calculator which requires that the calculator be set to its end mode since its annual coupons are payable at the end of each year, rather when the coupons would be paid at the beginning of each year.

Initial bond price:

I/Y=5.5(bond yield is 5.5%, without the % sign)

PMT=60(annual coupon=face value*coupon rate=1000*6%)

N=7(number of annual coupons in 7 years)

FV=1000(the face value is 1000)

CPT(press compute)

PV=GHS 1,028.41

New price with YTM of 6.5%:

I/Y=6.5(bond yield is 6.5%, without the % sign)

PMT=60(annual coupon=face value*coupon rate=1000*6%)

N=7(number of annual coupons in 7 years)

FV=1000(the face value is 1000)

CPT(press compute)

PV=GHS 972.58

change in bond price=(972.58/ 1,028.41)-1

change in bond price=-5.43%

Find out more about bond pricing on:brainly.com/question/25596583

#SPJ1

8 0
2 years ago
Merone Corporation applies manufacturing overhead to products on the basis of standard machine-hours. The company bases its pred
Irina18 [472]

Answer:

Fixed Overhead Volume Variance $ 54 Favorable

Explanation:

Fixed Overhead Volume variance is the difference between the budgeted fixed overhead and applied fixed overhead.

Budgeted Fixed Overhead = $7,560

Applied Fixed Overhead = Standard Rate * Standard Hours

Standard Rate for Fixed Overhead = $7,560/2,800 = $ 2.7

Applied Fixed Overhead = $ 2.7*2,820= $ 7614

Fixed Overhead Volume Variance=Budgeted Fixed Overhead-Applied Fixed Overhead

Fixed Overhead Volume Variance= $7,560-$ 7614= $ 54 Favorable

If applied overhead is more than budgeted overhead it is favorable because it indicates that the budgeted overhead is within in the standard range.

8 0
3 years ago
In the federal budget, national parks and federal prisons are examples of __________.
astraxan [27]

In the federal budget, national parks and federal prisons are examples of mandatory spending.

<h3>What is meant by mandatory spending?</h3>

All spending that does not occur through appropriations legislation is referred to as mandatory spending. Spending that is necessary includes payments for entitlement programs like Social Security and Medicare as well as required interest payments on the nation's debt. About two-thirds of all federal spending is accounted for through mandatory spending.

Major budgetary trends are significantly influenced by mandatory spending. As more people become eligible for required programs like unemployment insurance and income security programs during economic downturns, government revenues decline and spending rises, leading to an increase in deficits or a decrease in surpluses.

Spending on entitlement programs and a few other payments to individuals, companies, and state and local governments are examples of mandatory or direct spending. Ordinarily, mandatory spending is not determined by annual appropriation acts but rather by statutory requirements.

To learn more about mandatory spending refer to:

brainly.com/question/3652550

#SPJ4

5 0
1 year ago
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