Hartzog Corporation\'s most recent balance sheet and income statement appear bel
ID: 2361121 • Letter: H
Question
Hartzog Corporation's most recent balance sheet and income statement appear below:
40
40
1,160
1,170
$2,370
$2,640
90
240
250
330
700
910
550
190
1,670
1,730
$2,370
$2,640
4,110
2,025
100
185
$430
Statement of Financial PositionDecember 31, Year 2 and Year 1
(in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash $330 $300 Accounts receivable 560 540 Inventory 280 590 Prepaid expenses
40
40
Total current assets 1,210 1,470 Plant and equipment, net1,160
1,170
Total assets$2,370
$2,640
Liabilities and Stockholder's Equity Current liabilities: Accounts payable $340 $320 Accrued liabilities 20 20 Notes payable, short term90
240
Total current liabilities 450 580 Bonds payable250
330
Total liabilities700
910
Stockholder's equity: Preferred stock, $10 par, 5% 200 400 Common stock, $2 par 630 850 Additional paid-in capital--common stock 290 290 Retained earnings550
190
Total stockholder's equity1,670
1,730
Total liabilities and stockholder's equity$2,370
$2,640
Explanation / Answer
=(430-10)/630/2 = .33 would be the EPS.
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