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belka [17]
3 years ago
13

Kelley Company reports $1,250,000 of net income for 2017 and declares $175,000 of cash dividends on its preferred stock for 2017

. At the end of 2017, the company had 380,000 weighted-average shares of common stock. 1. What amount of net income is available to common stockholders for 2017
Business
1 answer:
defon3 years ago
3 0

Answer:

Net income available to common stockholders is $1,075,000

Explanation:

Net Income                            $1,250,000

To Preferred Shareholders   <u>$175,000    </u>

Net income available to       <u>$1,075,000</u>

common stockholders

Basic earnings per share = Net income available to common stockholders / weighted average shares of common stock

Basic earnings per share = $1,075,000 / 380,000

Basic earnings per share = $2.8290 per share.

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"Fresh Veggies, Inc. (FVI), purchases land and a warehouse for $460,000. In addition to the purchase price, FVI makes the follow
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Cost of land = $519,000

Explanation:

<em>According to  International Accounting Standards (IAS)  16, property plants and equipments, the cost of land includes all of the cost necessary to bring and make it ready for the intended use. </em>

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