Answer:
Preferred stock holders' dividend = $280000
Common stock holders' dividend = $8000
Explanation:
A cumulative preferred stock is one whose dividends are accumulated in arrears and are to paid in the following year(s), if the company fails to pay or partially pay the dividends in a certain year. The yearly dividend on preferred stock is,
Preferred stock dividend = 10000 * 200 * 0.07 = $140000
As the dividends on preferred stock are in arrears for one year, the company will pay a dividend this year on preferred stock of,
Preferred stock dividend to be paid = 140000 + 140000 = $280000
Thus, out of the announced dividend of $288000, $280000 will be paid to the preferred stock holders while the remaining $8000 will be paid to the common stock holders.
Answer:
Net income = $76,000
Earning per share (EPS):
Income from continuing operations per share = $4.40 per share
Loss from discontinued operations per share = -$3.64 per share
Net Income per share = $0.76 per share
Explanation:
Note: See the attached excel file for the income statement.
Also Note: Two years (2016 and 2018) were mistakenly mentioned in the question instead of just one of them. I therefore picked 2016 to prepare the income statement.
In the attached excel file, the earning per share (EPS) is calculated as follows:
Number of shares outstanding = 100,000 shares
Income from continuing operations per share = Income from continuing operations / Number of shares outstanding = $440,000 / 100,000 = $4.40 per share
Loss from discontinued operations per share = Loss from discontinued operations / Number of shares outstanding = -$364,000 / 100,000 = -$3.64 per share
Net Income per share = Net Income / Number of shares outstanding = $76,000 / 100,000 = $0.76 per share
You could bring a map or directions, and you could leave a half hour or so early. Make sure you double check where you're going and how you're getting there.
Hope this helps!
- Z
Answer:
$510,000
Explanation:
The computation of the total manufacturing cost is shown below:
= Direct material + direct labor + manufacturing overhead
where,
Direct material is
= Opening balance + purchase + transportation - ending balance
= $67,000 + $163,000 + $2,000 - $62,000
= $170,000
Direct labor is $200,000
And, the manufacturing overhead is
= $200,000 × 70%
= $140,000
So, the total manufacturing cost is
= $170,000 + $200,000 + $140,000
= $510,000
