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Step2247 [10]
3 years ago
7

Fastlane Company has 50,000 shares of common stock and 20,000 shares of preferred stock outstanding. There was no change in the

number of common or preferred shares outstanding during the year. Preferred stockholders received dividends this year totaling $120,000. Common stockholders received dividends totaling $200,000. If the dividend payout ratio for the year was 80%, then the net income was:_____.
a. $400,000.
b. $370,000.
c. $160,000.
d. $250,000.
Business
1 answer:
gavmur [86]3 years ago
5 0

Answer:

Option b is correct

Net income = $370,000

Explanation:

Dividend paid to common stock holders = Dividend payout ratio× earnings available to common stockholder

Let the total earnings be "y"

120,000 =80%×  y

y = 120,000/0.8

y= 250,000

Net income = Earnings payable to common stockholders + Preferred dividend

Net income = 250000  + 120,000 = $370,000

Net income = $370,000

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Lady_Fox [76]
MUx / MUy = Px / Py is the right answer
4 0
3 years ago
Short Corp. reported net income of $63,000 for the year and had a tax rate of 30%. Net sales were $300,000 and Operating expense
Mekhanik [1.2K]

Answer:

Cost of goods sold  : $ 120.000

Explanation:

income before taxes   : 63000 / 0.7 = 90000  

(+) expenses                                          90.000

Total                                                      180.000

(-) net sales                                         300.000

= cost of goods                                   120.000

7 0
3 years ago
___ refers to the potential for the long-term well-being of the natural environment, including all biological entities, as well
Neko [114]

Answer: Sustainability

Explanation:

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The importance of the sustainability is that it helps in maintain the quality of our environment and also the various types of natural resources.

The following are some benefits of the sustainability are as follows:

  • Reduce the cost
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According to the question, the sustainability is basically refers to the natural environment that has long term potential which include the various types of biological entities, business strategies and also the interaction with the environment.

 Therefore, Sustainability is the correct answer.

8 0
3 years ago
Describe the types of economic resources​
vivado [14]

Answer:

There are generally three important types of economic resources: Natural Resources, Human Resources and Capital Resources, that contribute to the economy of the nation.

Explanation:

Economy of any nation is dependant on the resources that the nation exhibits. There are generally three important types of economic resources namely; Natural Resources, Human Resources and Capital Resources.

  • Natural Resources: These are naturally created resources that are available in any nation and also contributes to the economy of that particular nation. These resources cannot be created by man and are mostly available because of the geographic factors. Examples of these resources are Agriculture, Water resources, etc.
  • Human Resources: These are manpower that are available to contribute in the growth and development of economy of the nation. Human resources are considered an important asset of any nation. Without the availability of sufficient human resources, the other resources are useless.
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5 0
3 years ago
Explain in your own words why in the short run a firm may continue to produce even at a loss provided the price is more than the
GenaCL600 [577]

Answer: The firms are faced with two options, the first is covering variable cost, which they can consider in a short run, which they can pay some of their fixed cost. If they shut down completely they would pay all their fixed costs.

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8 0
3 years ago
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