Question

In: Accounting

The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the...

The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the following:

Bonds payable, 7% $1,800,000
Preferred $10 stock, $100 par 173,000
Common stock, $7 par 1,029,350.00

Income before income tax was $365,400, and income taxes were $54,000, for the current year. Cash dividends paid on common stock during the current year totaled $79,407. The common stock was selling for $18 per share at the end of the year.

Determine each of the following. Round answers to one decimal place, except for dollar amounts which should be rounded to the nearest whole cent. Use the rounded answers for subsequent requirements, if required.

a. Times interest earned ratio times
b. Earnings per share on common stock $
c. Price-earnings ratio
d. Dividends per share of common stock $
e. Dividend yield %

Solutions

Expert Solution

ekkarill92 answered 1 year ago
Next > < Previous

Related Solutions

The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the...
The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the following: Bonds payable, 7% $1,800,000 Preferred $10 stock, $50 par 141,500 Common stock, $15 par 2,759,250.00 Income before income tax was $466,200, and income taxes were $70,000 for the current year. Cash dividends paid on common stock during the current year totaled $101,173. The common stock was selling for $22 per share at the end of the year. Determine each of the following. Round...
The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the...
The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the following: Bonds payable, 6% $1,000,000 Preferred $10 stock, $50 par $56,500 Common stock, $6 par $440,700.00 Income before income tax was $186,000, and income taxes were $27,800 for the current year. Cash dividends paid on common stock during the current year totaled $48,477. The common stock was selling for $22 per share at the end of the year. Determine each of the following. Round...
The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the...
The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the following: Bonds payable, 8% $2,000,000 Preferred $5 stock, $100 par $380,000 Common stock, $7 par $93,100.00 Income before income tax was $336,000, and income taxes were $51,000 for the current year. Cash dividends paid on common stock during the current year totaled $31,920. The common stock was selling for $160 per share at the end of the year. Determine each of the following. Round...
The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the...
The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the following: Bonds payable, 6% $1,100,000 Preferred $10 stock, $50 par 44,000 Common stock, $14 par 431,200.00 Income before income tax was $191,400, and income taxes were $28,600, for the current year. Cash dividends paid on common stock during the current year totaled $21,560. The common stock was selling for $35 per share at the end of the year. Determine each of the following. Round...
The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the...
The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the following: Bonds payable, 6% $1,800,000 Preferred $10 stock, $100 par 104,000 Common stock, $11 par 529,100.00 Income before income tax was $237,600, and income taxes were $34,800 for the current year. Cash dividends paid on common stock during the current year totaled $42,328. The common stock was selling for $44 per share at the end of the year. Determine each of the following. Round...
The balance sheet for Bearing Industries Inc. at the end of the current fiscal year indicated...
The balance sheet for Bearing Industries Inc. at the end of the current fiscal year indicated the following: Bonds payable, 10% (issued in 2006, due in 2026) $1,700,000 Preferred $10 stock, $50 par 63,000 Common stock, $12 par 1,134,000 Income before income tax was $238,000, and income taxes were $36,400, for the current year. Cash dividends paid on common stock during the current year totaled $41,580. The common stock was selling for $22 per share at the end of the...
The balance sheet for Seuss Company at the end of the current fiscal year indicated the...
The balance sheet for Seuss Company at the end of the current fiscal year indicated the following: Bonds payable, 10% (20-year term) $5,000,000 Preferred 10% stock, $100 par 1,000,000 Common stock, $10 par 2,000,000 Income before income tax was $1,500,000, and income taxes were $200,000 for the current year. Cash dividends paid on common stock during the current year totaled $150,000. The common stock sells for $75 per share at the end of the year. Required: Determine each of the...
The balance sheet for Seuss Company at the end of the current fiscal year indicated the...
The balance sheet for Seuss Company at the end of the current fiscal year indicated the following: Bonds payable, 10% (20-year term) $5,000,000 Preferred 10% stock, $100 par 1,000,000 Common stock, $10 par 2,000,000 Income before income tax was $1,500,000, and income taxes were $200,000 for the current year. Cash dividends paid on common stock during the current year totaled $150,000. The common stock sells for $75 per share at the end of the year. Required: Determine each of the...
Five Measures of Solvency or Profitability The balance sheet for Garcon Inc. at the end of...
Five Measures of Solvency or Profitability The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the following: Bonds payable, 10% $900,000 Preferred $5 stock, $50 par $72,000 Common stock, $9 par $44,064.00 Income before income tax was $153,000, and income taxes were $23,400 for the current year. Cash dividends paid on common stock during the current year totaled $12,876. The common stock was selling for $175 per share at the end of the year....
Five Measures of Solvency or Profitability The balance sheet for Garcon Inc. at the end of...
Five Measures of Solvency or Profitability The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the following: Bonds payable, 8% $1,500,000 Preferred $5 stock, $50 par $246,000 Common stock, $8 par $106,272.00 Income before income tax was $420,000, and income taxes were $63,300 for the current year. Cash dividends paid on common stock during the current year totaled $99,630. The common stock was selling for $250 per share at the end of the year....
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT