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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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The correct answer is letter "B": achievement.

Explanation:

<em>Highly-competitive</em> individuals tend to focus on the results of their activities, or, in other words, in their achievements. This characteristic of people makes them push themselves to their limits to find out how far they can go o they can accomplish their goals. Individuals who pay special attention to their achievements have little to no tolerance for failure.

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The following information is for Chambersburg Corp. for 2018 and 2017. Chambersburg uses the straight-line depreciation method.
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g Companies can help to ensure they do their part toward achieving the Sustainable Development Goals set out by UNCTAD by
Lunna [17]

The correct answer to this open question is the following.

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8 0
3 years ago
Which of the following would be considered a DISADVANTAGE of the use of above-market compensation? A. It may encourage voluntary
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E. It may encourage a sense of entitlement among employees.

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4 0
2 years ago
Marcelino Co.'s March 31 inventory of raw materials is $80,000. Raw materials purchases in April are $540,000, and factory payro
vovangra [49]

Answer:

See below

Explanation:

Marcelino Co's total cost of each production incurred in April

From March

Job306 Job307 job308

Direct materials $28,000 $39,000

Direct labor $23,000 $17,000

Applied overhead $11,500 $8,500

(50% of direct labor)

Beginning goods in process $52,500 $64,500 ---

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Total cost added in April $293,500 $449,500 $266,000

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2 years ago
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