16. Use the following data to determine the total dollar amorant of assets to be

Question

16. Use the following data to determine the total dollar amorant of assets to be current assets Eddy Auto Supplies Balance Sheet December 31,2017 s 165,000 Cash Accounts receivable Inventory Prepaid insurance Stock investments Land Buildings s 126,000 Accounts payable 30,000 120,000 210,000 Salaries and wages payable Mortgage payable 220.000 90,000 Total liabilities $465,000 255,000 285,000 $360,000 750.000 depreciation (60.000) 279,000 Total stockholders equity S1.110:90 Common stock Retained earnings Less: Accumulated Trademarks Total liabilities and Total assets A) $801,000 B) $126,000 C) $546,000 D) $456,000 stockholders' equity $1.575.000 17. The following information is available for Bradshaw Corporation and Newell Corporation: Bradshaw Corporation Newell Co 10 480 180 (in millions) 2016 2017 0 490 150 2016 Preferred dividends Net income Shares outstanding at the 2017 25 500 200 30 520 200 f the year hares outstanding at the 180 150 200 beginning of the year Based on this information, what is the amount of Bradshaw's earnings per sh (rounded to two decimals) for 2017? A) $2.76 B) $2.50 C) $1.25 D) $1.32

Explanation / Answer

16) Calculate current assets

So answer is c) $546000

17) Earning per share = (net income-Preferred dividend)/Weighted share outanding

Weighted share outstanding = (200+180/2) = 190

Earning per share = (500-25)/190 = 2.50

So answer is b) $2.50

Cash 126000 Account receivable 120000 Inventory 210000 Prepaid insurance 90000 Total current assets 546000

Related Questions

Navigate

• Browse (All)
• Browse 1
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.