Question
In: Accounting
Except for the earnings per share statistics, the 2016, 2017, and 2018 income statements for Ace...
Except for the earnings per share statistics, the 2016, 2017, and 2018 income statements for Ace Group Inc. were originally presented as follows:Required:
1. Calculate the 11 missing amounts. (Loss should be indicated by a minus sign.)
|
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*No
preferred shares have been issued.
2.
Calculate
the weighted-average number of common shares outstanding during the
following years:
(Do not round intermediate calculations.
Round your answers to nearest whole
number.)
|
3. Prepare the earnings per share income statement presentation during the following years: (Round your answers to 2 decimal places. Negative amounts should be indicated by a minus sign.)
|
Solutions
Expert Solution
1. 11 missing amounts.
| 2016 | 2017 | 2018 | |
| Sales | $483,855 | $704,040 | $1,015,900 |
| Costs and expenses | $165,920 | $82,180 | 332,070 |
| Profit from continuing operations | $317,935 | $621860 | $683,830 |
| Gain (loss) on discontinued operations | $(160,441) | $84,660 | (111,575) |
| Profit (loss) | $157,494 | $537,200 | $572,255 |
| Information on Common Shares for Ace Group Inc. * | ||
| Shares outstanding on December 31, 2015 | 37,300 | |
| Purchase and retirement of shares on March 1, 2016 | ? | 4,580 |
| Sale of shares on June 1, 2016 | + | 15,880 |
| Share dividend of 5% on August 1, 2016 | + | 2497.57 |
| Shares outstanding on December 31, 2016 | 48,600 | |
| Sale of shares on February 1, 2017 | + | 7,460 |
| Purchase and retirement of shares on July 1, 2017 | ? | 2,290 |
| Shares outstanding on December 31, 2017 | 53,770 | |
| Sale of shares on March 1, 2018 | + | 19,960 |
| Purchase and retirement of shares on September 1, 2018 | ? | 6,150 |
| Share split of 3:1 on October 1, 2018 | + | 202740 |
| Shares outstanding on December 31, 2018 | 204740 | |
2. Weighted-Average number of common shares outstanding during the following years:
|
3. Earnings per share income statement presentation during the following years:
| 2016 | 2017 | 2018 | |
| Income from continuing operations | $317,935 | $621,860 | $683,830 |
| Gain (Loss) from discontinued operations | $(160,441) | $84,660 | $(111,575) |
| Profit (loss) (A) | $157,494 | $537,200 | $572,255 |
| No. of weighted-average outsatnding shares (B) | 42,747 | 54,293 | 68,363 |
| Earning per share (C) = A / B | $3.68 | $9.90 | $8.37 |
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ekkarill92 answered 2 years agoRelated Solutions
Except for the earnings per share statistics, the 2019, 2020, and 2021 income statements for Ace...
Except for the earnings per share statistics, the 2019, 2020,
and 2021 income statements for Ace Group Inc. were originally
presented as follows:
Required:
1. Calculate the 11 missing amounts. (Loss should
be indicated by a minus sign.)
Answer is complete and correct.
2019
2020
2021
Sales
$486,855
$707,040
$1,018,900
Costs and
expenses
167,420selected
answer correct
254,500selected
answer correct
333,570
Profit from
continuing operations
$319,435
$452,540selected
answer correct
$685,330selected
answer correct
Gain (loss) on
discontinued operations
(161,191)selected
answer correct
85,410...
KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2018, 2017, and 2016 2018 2017...
KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31, 2018, 2017, and 2016
2018
2017
2016
Sales
$
382,784
$
293,244
$
203,500
Cost of goods sold
230,436
186,210
130,240
Gross profit
152,348
107,034
73,260
Selling expenses
54,355
40,468
26,862
Administrative expenses
34,451
25,805
16,891
Total expenses
88,806
66,273
43,753
Income before taxes
63,542
40,761
29,507
Income tax expense
11,819
8,356
5,990
Net income
$
51,723
$
32,405
$
23,517
Complete the below table to calculate income statement data...
Financial statements for Steele Inc. follow. Steele Inc. Consolidated Income Statements (in thousands except per share...
Financial statements for Steele Inc. follow.
Steele
Inc.
Consolidated
Income Statements
(in
thousands except per share amounts)
2019
2018
2017
Net sales
$7,245,088
$6,944,296
$6,149,218
Cost of goods sold
(5,286,253)
(4,953,556)
(4,355,675)
Gross margin
$1,958,835
$1,990,740
$1,793,543
General and
administrative expenses
(1,259,896)
(1,202,042)
(1,080,843)
Special and
nonrecurring items
2,617
0
0
Operating income
$701,556
$788,698
$712,700
Interest expense
(63,685)
(62,398)
(63,927)
Other income
7,308
10,080
11,529
Gain on sale of
investments
0
9,117
0
Income before income
taxes
$645,179
$745,497...
How do you calculate the earnings per share for Target Corporation Fiscal year 2017 and 2016?...
How do you calculate the earnings per share for Target
Corporation Fiscal year 2017 and 2016? some other information
provided was undiluted for 2017 $5.35 and diluted for 2017 was
$5.31? thanks
This is in regards to Ratio analysis; So I have to figure out
the earnings per share for Target Corporation Fiscal Year 2017 and
2016. #52
STOCK MARKET
52. Earnings per share
Undiluted
$5.35
($2.58)
(NOTE: from the annual reports)
Diluted
$5.31
($2.56)
Formula:
Net earnings available for...
2016 Actual Results 2017 initial forecast earnings per share $50 $67 gross profit $3,000 $3,900 cost...
2016 Actual Results 2017 initial forecast
earnings per share
$50
$67
gross profit
$3,000
$3,900
cost of goods sold
(12,000)
(15,600)
interest
(300)
(300)
common dividends
(535)
(535)
fixed operating costs except depreciation
(750)
(975)
addition to retained earnings
$455
$806
net sales
$15,000
$19,500
dividends per share
$27
$27
depreciation
(300)
(390)
net income
$990
1,341
earnings before tax
$1,650
$2,235
earnings before interest and taxes
$1,950
$2,535
number of common shares (millions)
20.0
20.0
taxes
(660)
(894)
Question:...
KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016...
KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31, 2017, 2016, and 2015
2017
2016
2015
Sales
$
397,455
$
304,483
$
211,300
Cost of goods sold
239,268
192,738
135,232
Gross profit
158,187
111,745
76,068
Selling expenses
56,439
42,019
27,892
Administrative expenses
35,771
26,795
17,538
Total expenses
92,210
68,814
45,430
Income before taxes
65,977
42,931
30,638
Income taxes
12,272
8,801
6,220
Net income
$
53,705
$
34,130
$
24,418
KORBIN COMPANY
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December 31, 2017, 2016, and...
Earnings per Share, Extraordinary Item The net income reported on the income statement of Goth Co....
Earnings per Share, Extraordinary Item
The net income reported on the income statement of Goth Co. was
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40,000 shares of $6 preferred stock outstanding throughout the
current year. The income statement included two extraordinary
items: a $470,000 gain from condemnation of land and a $180,000
loss arising from flood damage, both after applicable income
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a. Determine the per-share figure for common
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Income Statement for Fiscal Years Endings (in Millions, except per share amounts) Report Date 06/30/2019 06/30/2018...
Income Statement for Fiscal Years Endings
(in Millions, except per share amounts)
Report Date
06/30/2019
06/30/2018
06/30/2017
Net sales
$67,684
$66,832
$65,058
Cost of products sold
34,768
34,268
32,535
Gross profit
$32,916
$32,564
$32,523
Selling, general & administrative expense
19,084
18,853
18,568
Goodwill & indefinite lived intangible asset impairment
charges
8,345
0.00
0.00
Operating income
$5,487
$13,711
$13,955
Interest expense
509
506
465
Interest income
220
247
171
Other non-operating income (expense), net
871
-126
-404
Earnings from continuing operations...
Earnings per Share, Price-Earnings Ratio, Dividend Yield The following information was taken from the financial statements...
Earnings per Share, Price-Earnings Ratio, Dividend Yield
The following information was taken from the financial
statements of Tolbert Inc. for December 31 of the current fiscal
year:
Common stock, $25 par value (no change during the year)
$5,000,000
Preferred $4 stock, $200 par (no change during the year)
6,000,000
The net income was $680,000 and the declared dividends on the
common stock were $50,000 for the current year. The market price of
the common stock is $23.80 per share.
For...
Earnings per Share, Price-Earnings Ratio, Dividend Yield The following information was taken from the financial statements...
Earnings per Share, Price-Earnings Ratio, Dividend Yield
The following information was taken from the financial
statements of Tolbert Inc. for December 31 of the current fiscal
year:
Common stock, $15 par value (no change during the year)
$4,650,000
Preferred $8 stock, $200 par (no change during the year)
8,000,000
The net income was $878,000 and the declared dividends on the
common stock were $77,500 for the current year. The market price of
the common stock is $14.40 per share.
For...
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