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shtirl [24]
3 years ago
7

On December 31, 2020, Dow Steel Corporation had 610,000 shares of common stock and 31,000 shares of 9%, noncumulative, nonconver

tible preferred stock issued and outstanding. Dow issued a 4% common stock dividend on May 15 and paid cash dividends of $410,000 and $70,000 to common and preferred shareholders, respectively, on December 15, 2021. On February 28, 2021, Dow sold 63,000 common shares. In keeping with its long-term share repurchase plan, 2,000 shares were retired on July 1. Dow's net income for the year ended December 31, 2021, was $2,150,000. The income tax rate is 25%.
Required:
Compute Dow's earnings per share for the year ended December 31, 2021.
Business
1 answer:
sergiy2304 [10]3 years ago
4 0

Answer:

$3.02 per share

Explanation:

The computation of the earning per share is shown below:

we know that

Earnings per share = (Net income - preferred dividend) ÷  Weighted average outstanding common shares

= ($2,150,000 - $70,000) ÷ 688,000 shares

= $3.02 per share

<u>Date                 Particulars           No. of shares </u>

01/01-31/12 610000 ×  12 ÷ 12 (610000 × 1.04)  $634,400

28/02-31/12    63000 × 10 ÷ 12 (52500 × 1.04)   $54,600

01/07-31/12     (2000) ×  6 ÷ 12          -$1,000

Weighted average outstanding common shares 688,000

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Answer: Mass communication, and Journalism are the professions that advertising supports.

Advertising helps all forms of businesses

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8 0
3 years ago
You have just received notification that you have won the $3 million first prize in the Centennial Lottery. However, the prize w
son4ous [18]

Answer:

The present value of your windfall if the appropriate discount rate is 10 percent is $5,562

Explanation:

Amount of Prize = $3,000,000

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Present Value = Future value / ( 1 + discount rate )^number of years

PV = FV / ( 1 + r )^n

PV = $3,000,000 / ( 1 + 0.10 )^66

PV = $3,000,000 x ( 1 + 0.10 )^-66

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8 0
3 years ago
Analyze a local space that is open to the public. It can be a store or mall, a club, restaurant, or a school (like COC), perhaps
enyata [817]

Answer:

Local spaces open for public to help them with social activities. Parks, gyms, store, mall and clubs are some of local spaces which are open to everyone for gaining relaxation in their leisure time.

Explanation:

People are busy in weekdays and they need some place for relaxation on weekend. There are many places which provide with recreational activities for people to relax and spend their weekends with their family.

7 0
3 years ago
Americans have come a long way in reducing their overt prejudice among groups such as Hispanics, whites, blacks, Jews, and Asian
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Answer:

B.

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Based on the information provided it can be said that people are still uncomfortable with other ethnic groups marrying into their families and living in their neighborhoods. This form of segregation still exists today in the United States of America, and mostly seems to be so because many groups prefer to live and share their space with only people from their same culture and background.

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When all companies and their managers in a society behave in a socially responsible way, business increases, quality of life inc
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Available Options Are:

A. A climate of caring will pervade.

B. Lawlessness all but ceases to exist.

C. People look after their own interests.

D. Small business starts increase.

E. Inflation decreases.

Answer:

Option A. A climate of caring will pervade.

Explanation:

When the people in a society start acting socially responsible which means that they value every single life on earth because acting socially means sustainability which says that the future generation needs must not be compromised in meeting current generation needs. Hence when everyone will be thinking as a socially responsible person then their will be a climate of care and every life matter would be understood by every single person on earth.

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