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Salsk061 [2.6K]
3 years ago
11

Sheridan company had 303000 shares of common stock issued and outstanding at december 31, 2017. no common stock was issued durin

g 2018. on january 1, 2018, sheridan issued 195000 shares of nonconvertible preferred stock. during 2018, sheridan declared and paid $103000 cash dividends on the common stock and $84000 on the preferred stock. net income for the year ended december 31, 2018 was $611000. what should be sheridan's 2018 earnings per common share? (rounded to the nearest penny)
Business
1 answer:
Nutka1998 [239]3 years ago
8 0

EPS is Net Income attributed to shareholders divided by no. of shares outstanding. The dividend on preferred stock is subtracted from net income before calculating earnings per share (EPS). Following is the formula for Earnings per share

EPS = (Net Income – Preferred Dividend)/ No. of common stocks outstanding

= ($611,000 - $84,000)/ 303,000

= $1.74

Therefore, earnings per share would be $1.74.

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Answer:

IRR = 8.77%

Explanation:

Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested

IRR can be calculated with a financial calculator  

Incremental IRR can be determined by subtracting the cash flows of the project with the smaller cost from the cash flows of the project with the higher initial cost

Incremental cash flows

Cash flow in year 0 = 639,700 -  411,200 = -228,500

Cash flow in year 1 = 288,000 -  186,000 = 102,000

Cash flow in year 2 = 319,000 - 178,000 = 141,000

Cash flow in year 3 =  165,000 -  145,000 = 20,000

IRR = 8.77%

 

To find the IRR using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the IRR button and then press the compute button.  

3. Press compute

5 0
2 years ago
Joe walks into Best Buy prepared to spend no more than $500 cash on a new computer, but the price turns out to be $600. Joe is t
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Answer:

Irrational decision

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Irrational decisions refer to those decisions which are not taken after enough deliberation, ignore the rationale, facts and logic, are rather decided out of whim and impulse and usually instantly decided.

In the given case, Joe was not willing to pay more than $500 cash yet eventually ended up paying $600. Even if the $25 gift card is considered, he ended up paying $575 which is more than he had decided to pay.

The choice of the consumer here is not rational or rather irrational since, he without considering other alternatives or exercise of judgement, without evaluating his costs, impulsively opted for the credit card lured by $25 gift card.

As per the economic theory, Joe's decision would be referred to as irrational.

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Answer:

See explanation below foe answer.

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