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NeX [460]
3 years ago
11

During 2018, Mayfair Enterprises had the following securities outstanding: 1. 250,000 shares of common stock with an average mar

ket price of $25 per share. 2. 9.5% convertible preferred, which had been sold at its par value of $100. The preferred stock is convertible into three shares of common stock and 3,000 preferred shares are currently outstanding. During 2018, Mayfair Enterprises earned net income after income taxes of $3.2 million. Calculate the (a) basic earnings per share and (b) diluted earnings per share for Mayfair Enterprises for 2018.
Business
1 answer:
Murrr4er [49]3 years ago
4 0

Answer and Explanation:

The computation of the earning per share and the diluted per share is shown below:

But before that following calculations need to be computed

Preference dividend is

= 3,000 shares × $100 × 9.5%

= $28,500

a. Now the earning per share is

= (Net income - preference dividend) ÷ (number of weighted outstanding shares)

= ($3.2 million - $28,500) ÷ (250,000 shares)

= $12.69 per share

b. Now diluted per share is

= Earning after tax ÷ (number of weighted outstanding shares)

= $3.2 million ÷ (250,000 shares + 3,000 × 3)

= $12.36 per share

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Which of the following is a pair of events which are mutually exclusive?
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Answer:

C. Sleeping in late and waking up early.

Explanation:

Two or more events are said to be mutually exclusive if and only if they can't happen at the same time.

Going with the above brief analysis, we.can easily say which of the pair of events is not mutually exclusive.

1. Rolling a 4 on a six-sided die and on a four-sided die

It's 100% possible to have an outcome of 4 when a 4 sided die and when a 6 sided die are rolled, whether at the same time or on different occasions. So, this pair of events are not mutually exclusive

2. Making rice and making corn

This pair of events are not mutually exclusive because it's possible to make rice and corn at the same time either together as a meal or separately using different cooking utensils

3. Sleeping in late and waking up early

This pair of events are mutually exclusive. This is so because literally, it's not possible to sleep late and wake up early at the same time.

You sleep early to wake early and you sleep late to wake late.

4. Going to work and riding the bus.

This pair of events are not mutually exclusive because they can occur at the same time when you go to work a bus.

So, option C is the correct answer

4 0
3 years ago
Jane has been operating Mansfield Park as a C corporation and decides she would like to make an S election. What is the earliest
podryga [215]

The earliest elections will come effective on January 1, 2016 for case a, b, d anf January 1, 2017 for rest options.

<h3>For different alternative scenarios:</h3>

a.) Jane is on top of things and makes the election on January 1, 2016.

January 1, 2016

b.) Jane is mostly on top of things and makes the election on January 15, 2016.

January 1, 2016

c.)Jane makes the election on February 10, 2016. She needed a little time to convince a C corporation shareholder to sell its stock to a qualifying shareholder. That process took all of January, and she was glad to have it over with.

January 1, 2017

d.)Jane makes the election on March 14, 2016.

January 1, 2016

e.)Jane makes the election on February 5, 2016. One of the shareholders refused to consent to the S election. He has since sold his shares (on January 15, 2016) to another shareholder who consented to the election.

January 1, 2017

To view similar question about election scenarios, refer to:

brainly.com/question/17101454

#SPJ4

3 0
2 years ago
You rented space for a kiosk at the mall last year for the holiday season for $750. This year they increased it to $825. What is
bekas [8.4K]

Answer:

10%

Explanation:

Cost of kiosk last year = $750

Cost of kiosk this year = $825

Percentage increase = $825-$750 / $750 * 100

Percentage increase = $75 / $750 * 100

Percentage increase = 10%

So the percentage increase in the cost of rent is 10%.

6 0
3 years ago
Bonds that are purchased with the intent of selling them in the near future to take advantage of short-term price changes are cl
vitfil [10]

Answer:

C. Trading Securities

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Trading securities refer to those securities which are purchased not with the intention of holding them till maturity, but to realize the gains arising as a consequence of short term price movements.

Bonds refer to debt instruments issued by the borrower for raising long term finance whereby the borrower promised to pay fixed coupon rate of interest on timely basis and principal repayment upon redemption.

In the given case, bonds purchased with the intention of selling in the near future with an objective to benefit from short term price movements represent trading securities. The benefit would be in the form of short term capital appreciation.

5 0
3 years ago
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