Phelps, Inc. had assets of $114,994, liabilities of $24,118, and 16,486 shares of outstanding common stock at December 31, 2017. Net income for 2017 was $12,200. The company had assets of $134,983, liabilities of $28,939, 12,535 shares of outstanding common stock, and its stock was trading at a price of $10 per share at December 31, 2018. Net income for 2018 was $11,687. Required: a. Calculate EPS for 2018. b. Calculate ROE for 2018. c. Calculate the Price/Earnings Ratio for 2018.
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- Problem 18-5 (Static) Shareholders' equity transactions; statement of shareholders' equity [LO18-6,18- 7,18-8] Listed below are the transactions that affected the shareholders' equity of Branch-Rickle Corporation during the period 2021=2023. At December 31, 2020, the corporation's accounts included: 57:28 Common stock, 105 million shares at $1 par Paid-in capital-excess of par Retained earnings sin thousands) $105,000 630,000 970,000 at nces a. November 1, 2021, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 15, to be paid December b On March 1, 2022, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch Rickie was holding as an investment. The bonds had a fair value of $1.6 million, but were purchased two years previously for $1.3 million. Because they were intended to be held to maturity, the bonds had not been previously written up. The…Question 12 General Electric’s balance sheet had the following as of 12/31/2019: Total Common Equity ($3,000,000), Common Shares Outstanding (300,000). During 2020, the firm had $590,000 in net income, and it paid out $150,000 in dividends. What was the book value per share on 12/31/2020, assuming not common stock was issued or retired during 2020? Round to the nearest second decimal and show your work.Problem 6 (Adapted)Anna company presented the following account balances in the shareholders’ equity section for the year ended December 31, 2018: Preference share capital, 12% P50 par, P3,000,000, Ordinary share capital, P100 par, P6,000,000 and deficit, (P1,350,000). No dividends have been paid on the preference share since 2016. Determine the book value per share under the following conditions:a. Preference share is preferred as to assetsb. Preference share is preferred as to dividend
- The following amounts were taken from the financial statements of Vaughn Manufacturing: 2017 2016 Total assets $825000 $1019000 Net sales 740000 655000 Gross profit 355000 341000 Net income 101000 132000 Weighted average number 90600 87000 of common shares outstanding Market price of common $42 $36 stockLG 5 P9-10 Cost of common stock equity Ross Textiles wishes to measure its cost of common stock equity. The firm's stock is currently selling for $57.50. The firm expects to pay a $3.40 dividend at the end of the year (2016). The dividends for the past 5 years are shown in the following table. Year 2015 2014 2013 2012 2011 Dividend $3.10 2.92 2.60 2.30 2.12 After underpricing and flotation costs, the firm expects to net $52 per share on a new issue. a. Determine the growth rate of dividends from 2011 to 2015. b. Determine the net proceeds, N, that the firm will actually receive. c. Using the constant-growth valuation model, determine the cost of retained earnings, r d. Using the constant-growth valuation model, determine the cost of new common stock, T16 i Assume General Motors announced a quarterly profit of $119 million for 4th quarter 2022. Below is a portion of its balance sheet. Conduct a horizontal analysis of the following line items. Note: Negative answers should be indicated by a minus sign. Round the "percent" answers to the nearest hundredth percent. Cash and cash equivalents Marketable securities Inventories Goodwill Total liabilities and equity 2022 (dollars in millions) $ $ 2021 (dollars in millions) $ 16,180 9,322 13,742 0 103,449 $ 15,599 16,348 14,524 1,282 144,703 Difference % Change
- Exercise 11-13 Earnings per share LO A1 Kelley Company reports $1,625,000 of net income for 2017 and declares $227,500 of cash dividends on its preferred stock for 2017. At the end of 2017, the company had 340,000 weighted-average shares of common stock. 1. What amount of net income is available to common stockholders for 2017? Net income To preferred stockholders Net income available to common stockholders 2. What is the company's basic EPS for 2017? Basic Earnings per Share Choose Numerator: Choose Denominator: Basic Earnings per Share Basic earnings per share %3DLO 11-2, 11-5 E11-17 Determining the Effect of a Stock Repurchase on EPS and ROE Swimtech Pools Inc. (SPI) reported the following in its financial statements for the quarter ended March 31, 2021. Common Stock, $1 par, 50,000 shares issued and outstanding Additional Paid-In Capital Retained Earnings Total Stockholders' Equity December 31, 2020 $ 50,000 30,000 20,000 $100,000 March 31, 2021 $ 50,000 30,000 20,000 $100,000 During the quarter ended March 31, SPI reported Net Income of $5,000 and declared and paid cash dividends totaling $5,000. Required: 1. Calculate earnings per share (EPS) and return on equity (ROE) for the quarter ended March 31. 2. Assume SPI repurchases 10,000 of its common stock at a price of $2 per share on April 1, 2021. Also assume that during the quarter ended June 30, 2021, SPI reported Net Income of $5,000 and declared and paid cash dividends totaling $5,000. Calculate earnings per share (EPS) and return on equity (ROE) for the quarter ended June 30, 2021. 3.…#23 On April 13, 2017, Yext inc. completed its IPO on the NYSE. Yext sold 11,800,000 shares of stock at an offer price of $9.21 per share. Yext's closing stock price on the first day of trading on the secondary market was $13.39. a. Calculate the gross procceds for Yext's IPO. b. Calculate Yext's IPO underpricing. c. Calculate the money left on the table for Yext's IPO.
- #21 The ABC Company began operations in January 2018 and reported the following results for each of its three years of operations: 2018 – 799,500 net loss 2019 – 123,000 net loss 2020 – 2,460,000 net income At December 31, 2020, ABC Company’s capital accounts were as follows: 8% cumulative preference share capital, 50,000 shares issued and outstanding – P 7,687,500 Ordinary share capital, 750,000 shares issued and outstanding – P 31,518,750 ABC Company has never paid a cash or bonus issue and there has been no change in its capital accounts since it began operations in 2018. What is the book value per ordinary share at December 31, 2020? Group of answer choices 41.62 42.85 41.70 42.03ent 10-Ch 12 i aces Equity and Liabilities Share capital-common (131,000 shares issued) Retained earnings (Note 1) Accrued liabilities Notes payable (current) Accounts payable Total equity and liabilities SW Company provides the Equity & Liability information below for analysis. SW Company had net income of $392,900 in 2023 a $308,400 in 2022. Return on equity 2022 % Saved 2023 Note 1: Cash dividends were paid at the rate of $1 per share in 2022 and $2 per share in 2023. Required: 1. Calculate the return on common share equity for 2022 and 2023. (Assume total equity was $1,574,000 at December 31, 2021.) (Round your answers to 1 decimal place.) % 2023 2022 $1,242,000 $1,242,000 370,400 10,300 80,400 56,400 Help 260,400 6,400 67,300 189,500 $1,759,500 $1,765,600Problem 43. The following assets are acquired on January 1, 2015, when the general price index is 200:Inventory P1,000,000Property, plant and equipment 2,000,000Investment in Bonds Receivable 3,000,000The company is reporting in a hyperinflationary economy. On December 31, 2015, the general priceindex is 300. How shall the assets above be presented in the 12/31/2015 Statement of FinancialPosition? Problem 44. The statement of financial position of ART Inc. before translation to hyperinflationaryeconomy is presented as follows:Cash 1,000,000 Accounts payable 1,000,000Accounts receivable 2,000,000 Unearned revenue (1/1/2015) 1,500,000Inventory (1/1/2015) 3,000,000 Ordinary share (1/1/2015) 2,000,000PPE (7/1/2015) 4,000,000 Retained earnings 500,000The general price index are provided for the following dates:1/1/2015 – 100 7/1/2015 – 200 12/31/2015 – 300How much retained earnings shall be presented in the translated statement of financialposition of ART Inc. in a hyperinflationary…