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fgiga [73]
3 years ago
13

Calculation of EPS and retained earnings Everdeen Mining​, ​Inc., ended 2019 with net profits before taxes of $ 436 comma 000. T

he company is subject to a 21 % tax rate and must pay $ 64 comma 000 in preferred stock dividends before distributing any earnings on the 170 comma 000 shares of common stock currently outstanding. a. Calculate​ Everdeen's 2019 earnings per share​ (EPS). b. If the firm paid common stock dividends of $ 0.80 per​ share, how many dollars would go to retained​ earnings?
Business
1 answer:
ryzh [129]3 years ago
8 0

Answer:

A)  $ 1,65 are the 2019 EPS

B) $ 144.4400 go to retained earning after paid dividens of 0,80 per share.

Please see details below:

Explanation:

Net Income BEFORE Taxes  $436.000  

Tax RATE 21%  -$91.560  

Net Income after Taxes  $344.440  

Preferred Stock  -$64.000

Subtotal $ 280.440    >> 280.440/170.000= $1,65 2019 EPS

Dividends $0,80/Shares: 170.000*0,8= $136.000

Subtotal $ 144.440 >> Retained Earnings

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