Cost of preferred stock Taylor Systems has just issued preferred stock. The stock has a 12 % annual dividend and a $100 par value and was sold at $97.50 per shar
Consideration refers to what each party gets in exchange for his or her promise under a contract. A contract has four elements: agreement, consideration, contractual capacity, and legal object. Agreement refers to the contract itself, consideration to the results of the contract, contractual capacity represents your legal ability to sign the contract, and legal object is the purpose of the agreement.
Hey There!:
Sample Mean = 4.4823
SD = 0.1859
Sample Size (n) = 7
Standard Error (SE) = SD/root(n) = 0.0703
alpha (a) = 1-0.99 = 0.01
t(a/2, n-1 ) = 3.7074
Margin of Error (ME) = t(a/2,n-1)x SE = 0.2606
99% confidence interval is given by:
Sample Mean +/- (Margin of Error)
4.4823 +/- 0.2606 = (4.222 , 4.743)
Hope this helps!
Answer:
$2,266,123.60
Explanation:
As it is given
Return on sales = Net income ÷ Sales
3.56% = $110,000 ÷ Sales
So, the sales is $3,089,887.64
Now the Gross Profit percentage is
Gross Profit percentage = Gross profit ÷ Sales
26.66% = Gross profit ÷ $3,089,887.64
So, the gross profit
= $823,764.044
Now the cost of goods sold is
= Sales - gross profit
= $3,089,887.64 - $823,764.044
= $2,266,123.60
