1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
iVinArrow [24]
3 years ago
5

Hardaway Fixtures' balance sheet at December 31, 2020, included the following: Shares issued and outstanding: Common stock, $1 p

ar $ 1,040,000 Nonconvertible preferred stock, $50 par 15,000 On July 21, 2021, Hardaway issued a 25% stock dividend on its common stock. On December 12, it paid $65,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2021, was $4,400,000. Required:Compute Hardaway's earnings per share for the year ended December 31, 2021.
Business
1 answer:
Novay_Z [31]3 years ago
7 0

Answer:

$3.33 per share

Explanation:

Given that,

Common stock, $1 par = $1,040,000

Stock dividend = 25% on its common stock

Net income = $4,400,000

Dividend paid to stockholder's = $65,000

Stock dividend:

= Shares at January 1 × 25%

= 1,040,000 × 25%

= 260,000 shares

Earnings per share:

= (Net income - Preferred dividend) ÷ (Shares at January 1 + Stock dividend)

= ($4,400,000 - $65,000) ÷ (1,040,000 shares + 260,000 shares)

= $4,335,000 ÷ 1,300,000

= $3.33 per share

You might be interested in
Moon Flower Cosmetics Company’s executives are aware that their Asian customer base is interested in advanced skin care treatmen
Lady_Fox [76]

Answer:A merger

Explanation:

This is coming of two companies to form a new firm with both companies losing their indentity .

7 0
3 years ago
The Master Manufacturing Company has just announced a tender offer for its own common stock. Master is offering to buy up to 100
ololo11 [35]

Answer:

It should be recommended that the customer should sell long.

Explanation:

As the offer in the question is contigent on 64% of the tendered shares, this makes the tender be inappropriate if the customer wants to cash out the position.

The right step to take is by selling the long position that has a new higher market price.

Therefore, it should be recommended that the customer should sell long.

Note that to sell long implies that stocks or any other financial investment instrument are purchased now for the purpose of selling them at a higher future price in order to make a profit.

6 0
3 years ago
​Crawley, Inc. has a line of credit with HNC Bank that allows the company to borrow up to​ $800,000 at an interest rate of 12 pe
ch4aika [34]

Answer: 14.63%

Explanation:

Based on the information given in the question, the effective annual cost of​ credit will be calculated as:

Effective annual cost of credit = [Interest rate/ (100 - Deposit Rate)] x 100

= [12 /(100 - 18)] x 100

= (12 / 82) × 100

= 0.1463 × 100

= 14.63%

The effective annual cost of​ credit is 14.63%.

7 0
3 years ago
Suppose that you invest $100 today in a risk-free investment and let the 6 percent annual interest rate compound. What will be t
Kipish [7]

Solution :

It is given that :

Amount of investment or the principle amount , P = $ 100

Time of investment , t = 6 years

Rate of interest compounded annually r = 6 %

Therefore the future amount of this investment in a 6 year time is given by,

$FV=P(1+\frac{r}{100})^t

$FV=100(1+\frac{6}{100})^6

$FV=100(1+0.06)^6

$FV= 100 (1.4185)$

$FV=141$

Therefore, after 6 years the investment of $ 100 will give an amount of $ 141.

3 0
3 years ago
Intuit​ Labs, a division of​ Intuit, the accounting and payroll software​ developer, follows a​ "Design for Delight​ (D4D)" deve
Anarel [89]

Options:

A. Team based new product development

B. Customer centered new product development

C. Crowdsoursing

D. Systematic new product development

E. New Market Strategy.

Answer:

B. Customer centered new product development.

Explanation: Customer centered new product development is a product development concept which is focuses more on the satisfaction of the needs of the customer. This type of product development strategy ensures that the needs of the customers, some times research or surveys or questionaires are used to first determined the needs of the target market or target customers before finally designing the product.

4 0
3 years ago
Other questions:
  • Paradise, Inc., has identified an investment project with the following cash flows.Year Cash Flow1 = $5752= $ 8253= $1,1254 =$1,
    10·1 answer
  • You receive an invoice for $565.00 with terms 3/10, net 30. If you pay it immediately, how much will you pay
    8·1 answer
  • Target Corporation prepares its financial statements according to U.S. GAAP. Target's financial statements and disclosure notes
    9·1 answer
  • An economy is created by interactions between which two groups of people
    5·1 answer
  • A certificate of deposit often charges a penalty for withdrawing funds before the maturity date. If the penalty involves two mon
    13·1 answer
  • What skills will a manager need to communicate with new employees?
    7·2 answers
  • Trade sanctions were often enacted as expressions of U.S. revulsion against nations for their internal practices, such as human
    8·1 answer
  • Diemia Hospital has been considering the purchase of a new x-ray machine. The existing machine is operable for three more years
    12·1 answer
  • June:
    9·1 answer
  • douglas pays selena $43,300 for her 30% interest in a partnership with net assets of $127,900. following this transaction, dougl
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!