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MariettaO [177]
3 years ago
12

The Esposito Import Company had 1 million shares of common stock outstanding during 2021. Its income statement reported the foll

owing items: income from continuing operations, $7 million; loss from discontinued operations, $1.4 million. All of these amounts are net of tax. Required: Prepare the 2021 EPS presentation for the Esposito Import Company. (Amounts to be deducted should be indicated with a minus sign. Round your answers to 2 decimal places.)
Business
1 answer:
borishaifa [10]3 years ago
5 0

Answer:

Explanation:

The preparation of the 2021 EPS presentation for the Esposito Import Company is shown below:

Income from continuing operations                           $7 million

Less: Loss from discontinued operations                  ($1.4 million)

Net income                                                   $5.6 million

Now the earning per share would be

Earning per share = (Net income) ÷ (Number of shares)

                              = ($5.6 million) ÷ (1 million shares)

                              = $5.6 per share

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N
ankoles [38]

Answer:

Stocks is the type of investments that offers both capital gains and interest income.

4 0
3 years ago
Safeco’s current assets total to $20 million versus $10 million of current liabilities, while Risco’s current assets are $10 mil
dlinn [17]

Answer:

b. The transactions would lower Safeco's financial strength as measured by its current ratio but raise Risco's current ratio

Explanation:

The formula to compute the current ratio is shown below:

Current ratio = Total Current assets ÷ total current liabilities  

So,

For Safeco, the current ratio would be

= $20 million ÷ $10 million

= 2 times

And for Risco, the current ratio would be

= $10 million ÷ $20 million

= 0.5 times

After borrowing, the current ratio would be

The current assets and the current liabilities would be increased by $10 million in each side.

For Safeco, the current ratio would be

= $30 million ÷ $20 million

= 1.5 times

And for Risco, the current ratio would be

= $20 million ÷ $30 million

= 0.67 times

By comparing the current ratio, we get to know that The Safeco current ratio would be decreased whereas, the Risco current ratio is increased

Hence, option b is correct

4 0
3 years ago
What is one main feature of the free enterprise system
earnstyle [38]

Answer:

Businesses that produce good products are rewarded with profits

Explanation:

In the free enterprise system, governments do not interfere with economic activities in the country. The private sector does all the production and distribution of goods and services.

No restrictions are put in place on the type or number of businesses that entrepreneurs can operate. Due to this reason, business competition is very intense. Customers choose their preferred products from a wide variety offered by the many suppliers. Producers who make products that satisfy customers' needs are rewarded with profits.

7 0
3 years ago
The ABC Auto Supply Company of Burlington, Vermont, uses an e-commerce software program on its Web site to allow customers such
elixir [45]

Answer:

The correct answer is letter "A": B2B.

Explanation:

In a B2B business model goods or services are traded between two or more businesses. Most parts of these transactions are dedicated to the exchange of raw materials. Customers are part of the process only when the final product is offered in the open market but not during the B2B business process.

8 0
3 years ago
Sneed Corporation issues 9,700 shares of $49 par preferred stock for cash at $66 per share. The entry to record the transaction
NARA [144]

Answer:

a.Preferred Stock for $475,300

and Paid-In Capital in Excess of Par—Preferred Stock for $164,900.

Explanation:

The par value it's a minimum price that the company assigns to the issued shares only to be used in the accounting system but it's not related to market price.    

This par value will be shown as a separate value in the section of stockholders' equity, reported under the item Paid-in-Capital, the difference with the market price it's reported as Preferred Stock.    

Cash                                                                            $640.200  Debit  

Preferred Stock                                                     $475.300  Credit  

Paid-In Capital in Excess of Par—Preferred Stock  $164.900  Credit  

7 0
3 years ago
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