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slava [35]
2 years ago
10

During 2021, Angel Corporation had 990,000 shares of common stock and 95,000 shares of 6% preferred stock outstanding. The prefe

rred stock does not have cumulative or convertible features. Angel declared and paid cash dividends of $390,000 and $195,000 to common and preferred shareholders, respectively, during 2021. On January 1, 2020, Angel issued $2,090,000 of convertible 5% bonds at face value. Each $1,000 bond is convertible into five common shares. Angel's net income for the year ended December 31, 2021, was $7.35 million. The income tax rate is 25%. What is Angel's basic earnings per share for 2021, rounded to the nearest cent
Business
1 answer:
frozen [14]2 years ago
6 0

Answer:

$7.23

Explanation:

Basic Earnings per share = (Net Income - Preferred Dividend) / Weighted average of outstanding common shares

Basic Earnings per share = ($7,350,000 - $195,000) / 990,000 shares

Basic Earnings per share = $7,155,000 / 990,000 shares

Basic Earnings per share = 7.22727273

Basic Earnings per share = $7.23

So, the amount of Angel's basic earnings per share for 2021 is $7.23.

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Mark owns his own business and wants to make sure that his employees arrive on time each day and take breaks as specified. He ha
olga2289 [7]

Operant conditioning is used by Mark .

<h3><u>Explanation:</u></h3>

The instrumental conditioning is the other name given for operant conditioning. It can be considered as a method of learning in which  rewards and punishments are used for modification of certain behaviors. This forms a relativity between certain behavior and the consequences of that behavior.

In the example given, Mark has decided to give rewards in order to make his employees to reach office at time. Monthly rewards are given to those employees who did not take breaks and thus he is using the principle of Operant conditioning .

6 0
3 years ago
The company evaluates all projects by applying the IRR Rule. If the appropriate interest rate is 9%, should the company accept t
Yuliya22 [10]

Answer: The project should be accepted.

Explanation:

The Internal Rate of Revenue is used to evaluate projects before they are accepted. It is a rate that equates the Net Present Value of cashflows to zero.

If the IRR is higher than the Required return then the Project will be accepted because it means that NPV will be higher than zero. The reverse is true.

Given the cashflows in the question, the IRR is;

= 18.8% according to Excel.

With the IRR higher than the required return of 8%, the project should be accepted.

4 0
3 years ago
Ergonomics Inc. sells ergonomically designed office chairs. The company has the following information:
Ilia_Sergeevich [38]

Answer:

141 Units

Explanation:

please see attachment

4 0
3 years ago
Assume that Corn Co. sold 8,000 units of Product A and 2,000 units of Product B during the past year. The unit contribution marg
Lesechka [4]

Answer:

9,792.75 units

Explanation:

The formula to compute the break even point in units is shown below:

Break even point in units = Fixed cost ÷ Weightage average Contribution margin per unit

where,

Fixed cost is $378,000

And, the Weightage average Contribution margin per unit is

= (Total contribution margin) ÷ (Total sales units)

= (8,000 units ×$34 + $2,000 × $57) ÷ (8,000 units + 2,000 units)

= ($272,000 + $114,000) ÷ (10,000 units)

= ($386,000)  ÷ (10,000 units)

= $38.6 per unit

Now the break even point in units is

= $378,000 ÷ 38.6 per unit

= 9,792.75 units

6 0
3 years ago
Assume the following information: Percent Complete Milling Department Units Materials Conversion Beginning work in process inven
lora16 [44]

Answer:

Equivalent units of production for materials = 5960

Explanation:

Given:

Units transferred out = 5800

Units in ending inventory = 400

%age of completion for conversion = 40%

To calculate the equivalent units of production by using the formula:

Equivalent units of production for materials = units transferred out + ( units in ending inventory × %age of completion for conversion)

= 5800 + ( 400 × 40/100)

= 5800 + ( 400 × 0.4)

= 5800 + 160

= 5960

3 0
3 years ago
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