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olganol [36]
3 years ago
8

At December 31, 2021 and 2020, Sheridan Company had 171000 shares of common stock and 12000 shares of 7%, $100 par value cumulat

ive preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2021 or 2020. Net income for 2021 was $442000. For 2021, earnings per common share amounted to (rounded to the nearest penny)
Business
1 answer:
ELEN [110]3 years ago
6 0

Answer:

The earnings per common share amounted to $2.53

Explanation:

Solution

Given that:

The Net Income for 2021= $442000

Thus,

The Dividend to be accrued on Preference shares for 2021 = 1200 *7% * 100

= $8400

The Earnings available to common share-holders for 2021 =$442000-$8400

= $433600

The number of common shares outstanding is = 171000 shares

So,

The Basic Earnings per share = 433600/171000

= $2.53

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Charles delivers flowers. He aerns $5.57 to deliever a flower arrangement. Last week he made $746.38. How many arrangements did
Wittaler [7]

Answer:

134

Explanation:

i divided 746.38 by 5.57 and thats your answer

3 0
3 years ago
Explain how other income streams such as photography and merchandise will be useful for the business. (8)
dolphi86 [110]

Answer:

Income streams such as photography and merchandise will be useful for the business is described below in detail.

Explanation:

The practices of photography are broad and therefore the businesses are extensive. the actuality is that if you are to sustain as an expert photographer today, and if you are to have the sources to proceed with what you are really enthusiastic about, then that often includes being open to, and actively evolving, various income streams, not all of which you will be uniformly passionate about.

7 0
3 years ago
A ________ transaction in the interbank market is the simultaneous purchase and sale of a given amount of foreign exchange for t
miskamm [114]

Answer:

Explanation:

A swap transaction in the inter bank market is the simultaneous purchase and sale of a given amount of foreign exchange for two different value dates. The purchase and sale are with the same counterpart. A swap may be considered a technique for borrowing another currency on a fully collateralize basis.

3 0
3 years ago
Suppose the rate of return on short-term government securities (perceived to be risk-free) is about 5%. Suppose also that the ex
Natalka [10]

Answer:

The expected rate of return on the market portfolio is 14%.

Explanation:

The expected rate of return on the market portfolio can be calculated using the following capital asset pricing model (CAPM) formula:

Er = Rf + B[E(Rm) - Rf] ...................... (1)

Where:

Er = Expected rate of return on the market portfolio = ?

Rf = Risk-free rate = 5%

B = Beta = 1

E(Rm) = Market expected rate of return = 14%

Substituting the values into equation (1), we have:

Er = 5 + 1[14 - 5]

Er = 5 + 1[9]

Er = 5 + 9

Er = 14%

Therefore, the expected rate of return on the market portfolio is 14%.

7 0
3 years ago
At year​ end, Rebos​ Company's financial statements showed sales of​ $820 million, net income of​ $425 million, total assets of​
Dafna11 [192]

Answer:

total sales $820 million

net income $425 million

total assets $750 million

total liabilities $735

1.2 million outstanding common stocks

an offer was made to buy their assets at $742.5 million

<u>company's book value per share:</u>

= (total assets - total liabilities) / total number of outstanding common stocks

= ($750,000,000 - $735,000,000) / 1,200,000 = $12.50 per stock

<u>company's liquidation value per share:</u>

= (total offer - total liabilities) / total number of outstanding common stocks

= ($742,500,000 - $735,000,000) / 1,200,000 = $6.25 per stock

4 0
3 years ago
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