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marishachu [46]
3 years ago
5

Myers, Inc.

Business
1 answer:
den301095 [7]3 years ago
7 0

Answer:

a. $6.85

b. 1.4 times

c. 11.9%

d. 17 times

Explanation:

a)  Weighted Average number of common shares outstanding = (Number of common shares outstanding in the beginning + Number of common shares outstanding in the end)/2

= (16,000 +24,000) /2

= 20,000 shares

Earnings per share = (Net income – Preferred stock dividend)/Weighted Average number of common shares outstanding

= (140,000 - 3,000) / 20,000

= 137,000/20,000

= $6.85

b) Price earnings ratio = Market price of 1 common share/Earnings per share

= 9.59 / 6.85

= 1.4 times

c)  Payout ratio = Cash dividends on common stock/Net income

= 16,600 / 140,000

= 0.11857

= 11.9%

d)  Times interest earned = (Net income + Interest expense + Tax expense) / Interest expense

= (140,000 + 10,000 + 20,000)/10,000

= 170,000 / 10,000

= 17 times

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3 years ago
Using the gross profit method find the estimated ending inventory using the following data:
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Answer:

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3 years ago
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