The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars. 2018 2019 Revenue$4,000 $4,100 Cost of goods sold 1,900 2,000 Depreciation 440 460 Inventories 290 340 Administrative expenses 400 450 Interest expense 110 110 Federal and state taxes* 350 370 Accounts payable 330 405 Accounts receivable 380 440 Net fixed assets† 5,500 6,340 Long-term debt 2,900 3,330 Notes payable 821 520 Dividends paid 440 440 Cash and marketable securities 850 460 * Taxes are paid in their entirety in the year that the tax obligation is incurred.† Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. Suppose that Fincorp has 542,000 shares outstanding. What were earnings per share? (Round your answers to 2 decimal places.)

Revenue is an income and statement item and is used to calculate profit and loss. We have the cost…

Answered: The table below contains data on…

Fundamentals Of Financial Management, Concise Edition (mindtap Course List)

10th Edition

ISBN:9781337902571

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter3: Financial Statements, Cash Flow, And Taxes

Section: Chapter Questions

Problem 19SP

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The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars.

	2018		2019
Revenue	$	4,000		$	4,100
Cost of goods sold		1,900			2,000
Depreciation		440			460
Inventories		290			340
Administrative expenses		400			450
Interest expense		110			110
Federal and state taxes*		350			370
Accounts payable		330			405
Accounts receivable		380			440
Net fixed assets^†		5,500			6,340
Long-term debt		2,900			3,330
Notes payable		821			520
Dividends paid		440			440
Cash and marketable securities		850			460

* Taxes are paid in their entirety in the year that the tax obligation is incurred.

^† Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed.

Suppose that Fincorp has 542,000 shares outstanding. What were earnings per share? (Round your answers to 2 decimal places.)

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