Answer:
Clarkston Motorsports
Income statement Year ended November 30,2016
$ $
Net Sales Revenue 863,000
Cost of Goods Sold (510,000
)
Gross Profit 353,000
Selling Expenses
Selling expenses 125,000
Administrative Expenses
General expenses 134,000
Income Tax Expense 70,000
Income From Continuing Expense (329,000)
Net Income 24,000
Earnings Per Share (Continuing Operations) $1.14
Earnings Per Share (Discontinued Operations) $0.10
Explanation:
Continuing Operations
<em>Earnings Per Share = Earnings Attributable to Holders of Common Stock ÷ Weighted Average Number of Common Stocks Outstanding</em>
= $ 24,000 ÷ 21,000
= $1.14
Discontinued Operations
<em>Earnings Per Share = Earnings Attributable to Holders of Common Stock ÷ Weighted Average Number of Common Stocks Outstanding</em>
= $ 2,000 ÷ 21,000
= $0.10
power of sale clause
What is borrower defaults?
Any default under or breach of any such agreement or instrument is referred to as a borrower default. This includes any default or event of default as defined in any agreement or instrument evidencing, governing, or issued in connection with lender Indebtedness, including but not limited to the Credit Agreement. Any situation or event that, upon giving notice, passing of time, or both, would, unless corrected or waived, become a borrower event of default is referred to as a borrower default. If the borrower fails to pay back any advances when they are due or if legal action is taken to appoint a receiver, trustee, liquidator, or custodian of the borrower or of all or a major portion of it, a borrower default is said to have taken place.
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The opportunity cost of moving from point B to point C is the 2 units of butter that are given up to gain 1 additional gun.
<h3>What is opportunity cost?</h3>
Opportunity cost is an economic term for expressing cost in terms of foregone alternative. It is something needs to be given up in order to procure something else.
If the production chart is moved from A too B, there will be a decrease in the production.
The opportunity cost by shifting the lines is giving up the items and decreasing what is actually being produced. The decrease results in an opportunity cost - which is what you give up to gain something else.
Therefore, the opportunity cost of moving from point B to point C is the 2 units of butter that are given up to gain 1 additional gun.
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