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Profitability Ratios The following data came from the financial statements of St. James Corp. for 2019...
Profitability Ratios The following data came from the financial statements of St. James Corp. for 2019 and 2018. 2019 2018 Net income $150,500 $120,000 Cash dividends paid on preferred stock $15,000 $15,000 Cash dividends paid on common stock $42,000 $38,000 Weighted average number of preferred shares outstanding 20,000 20,000 Weighted average number of common shares outstanding 105,000 95,000 Required: Calculate St. James' earnings per share as it would be reported on the 2019 income statement. Round your answer to the nearest cent. $
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Please refer to below spreadsheet for calculation and answer. Cell reference also provided.
Cell reference -
jeff jeffy answered 1 year agoRelated Solutions
Profitability Ratios The following selected data were taken from the financial statements of Vidahill Inc. for...
Profitability Ratios
The following selected data were taken from the financial
statements of Vidahill Inc. for December 31, 20Y7, 20Y6, and
20Y5:
December 31
20Y720Y620Y5
Total assets$221,000 $199,000 $177,000
Notes payable (8% interest)70,000 70,000 70,000
Common stock28,000 28,000 28,000
Preferred 5% stock, $100 par14,000 14,000 14,000
(no change during year)
Retained earnings70,600 53,100 42,000
The 20Y7 net income was $18,200, and the 20Y6 net income was
$11,800. No dividends on common stock were declared between 20Y5
and 20Y7. Preferred dividends...
Profitability Ratios The following selected data were taken from the financial statements of Vidahill Inc. for...
Profitability Ratios
The following selected data were taken from the financial
statements of Vidahill Inc. for December 31, 20Y7, 20Y6, and
20Y5:
December 31
20Y7
20Y6
20Y5
Total assets
$320,000
$288,000
$256,000
Notes payable (8% interest)
110,000
110,000
110,000
Common stock
44,000
44,000
44,000
Preferred 6% stock, $100 par
22,000
22,000
22,000
(no change during year)
Retained earnings
117,200
80,880
66,000
The 20Y7 net income was $37,640, and the 20Y6 net income was
$16,200. No dividends on common stock were...
Profitability Ratios The following selected data were taken from the financial statements of Vidahill Inc. for...
Profitability Ratios
The following selected data were taken from the financial
statements of Vidahill Inc. for December 31, 20Y7, 20Y6, and
20Y5:
December 31
20Y7
20Y6
20Y5
Total assets
$255,000
$230,000
$205,000
Notes payable (8% interest)
90,000
90,000
90,000
Common stock
36,000
36,000
36,000
Preferred 5% stock, $100 par
18,000
18,000
18,000
(no change during year)
Retained earnings
94,500
68,025
54,000
The 20Y7 net income was $27,375, and the 20Y6 net income was
$14,925. No dividends on common stock were...
Profitability Ratios The following selected data were taken from the financial statements of Vidahill Inc. for...
Profitability Ratios
The following selected data were taken from the financial
statements of Vidahill Inc. for December 31, 20Y7, 20Y6, and
20Y5:
December 31
20Y720Y620Y5
Total assets$221,000 $199,000 $177,000
Notes payable (8% interest)70,000 70,000 70,000
Common stock28,000 28,000 28,000
Preferred 5% stock, $100 par14,000 14,000 14,000
(no change during year)
Retained earnings70,600 53,100 42,000
The 20Y7 net income was $18,200, and the 20Y6 net income was
$11,800. No dividends on common stock were declared between 20Y5
and 20Y7. Preferred dividends...
Profitability Ratios The following selected data were taken from the financial statements of Vidahill Inc. for...
Profitability Ratios
The following selected data were taken from the financial
statements of Vidahill Inc. for December 31, 20Y7, 20Y6, and
20Y5:
December 31
20Y7
20Y6
20Y5
Total assets
$254,000
$229,000
$204,000
Notes payable (8% interest)
80,000
80,000
80,000
Common stock
32,000
32,000
32,000
Preferred 5% stock, $100 par
16,000
16,000
16,000
(no change during year)
Retained earnings
88,275
60,850
48,000
The 20Y7 net income was $28,225, and the 20Y6 net income was
$13,650. No dividends on common stock were...
Profitability Ratios The following selected data were taken from the financial statements of Vidahill Inc. for...
Profitability Ratios
The following selected data were taken from the financial
statements of Vidahill Inc. for December 31, 20Y7, 20Y6, and
20Y5:
December 31
20Y7
20Y6
20Y5
Total assets
$172,000
$155,000
$138,000
Notes payable (8% interest)
60,000
60,000
60,000
Common stock
24,000
24,000
24,000
Preferred 7% stock, $100 par
12,000
12,000
12,000
(no change during year)
Retained earnings
73,725
51,135
36,000
The 20Y7 net income was $23,430, and the 20Y6 net income was
$15,975. No dividends on common stock were...
Profitability Ratios The following selected data were taken from the financial statements of Vidahill Inc. for...
Profitability Ratios
The following selected data were taken from the financial
statements of Vidahill Inc. for December 31, 20Y7, 20Y6, and
20Y5:
December 31
20Y7
20Y6
20Y5
Total assets
$291,000
$262,000
$233,000
Notes payable (8% interest)
100,000
100,000
100,000
Common stock
40,000
40,000
40,000
Preferred 5% stock, $100 par
20,000
20,000
20,000
(no change during year)
Retained earnings
124,895
86,125
60,000
The 20Y7 net income was $39,770, and the 20Y6 net income was
$27,125. No dividends on common stock were...
9. Profitability Ratios The following selected data were taken from the financial statements of Vidahill Inc....
9.
Profitability Ratios
The following selected data were taken from the financial
statements of Vidahill Inc. for December 31, 20Y7, 20Y6, and
20Y5:
December 31
20Y7
20Y6
20Y5
Total assets
$220,000
$198,000
$176,000
Notes payable (8% interest)
70,000
70,000
70,000
Common stock
28,000
28,000
28,000
Preferred 3% stock, $100 par
14,000
14,000
14,000
(no change during year)
Retained earnings
79,080
55,150
42,000
The 20Y7 net income was $24,350, and the 20Y6 net income was
$13,570. No dividends on common stock...
Six Measures of Solvency or Profitability The following data were taken from the financial statements of...
Six Measures of Solvency or Profitability
The following data were taken from the financial statements of
Gates Inc. for the current fiscal year.
Property, plant, and equipment (net)
$2,392,000
Liabilities:
Current liabilities
$238,000
Note payable, 6%, due in 15 years
1,196,000
Total liabilities
$1,434,000
Stockholders' equity:
Preferred $2 stock, $100 par (no change during year)
$1,434,000
Common stock, $10 par (no change during year)
1,434,000
Retained earnings:
Balance, beginning of year
$1,530,000
Net income
645,000
$2,175,000
Preferred dividends
$28,680
Common...
Six Measures of Solvency or Profitability The following data were taken from the financial statements of...
Six Measures of Solvency or Profitability
The following data were taken from the financial statements of
Gates Inc. for the current fiscal year.
Property, plant, and equipment (net)
$1,687,400
Liabilities:
Current liabilities
$154,000
Note payable, 6%, due in 15 years
767,000
Total liabilities
$921,000
Stockholders' equity:
Preferred $4 stock, $100 par (no change during year)
$690,750
Common stock, $10 par (no change during year)
690,750
Retained earnings:
Balance, beginning of year
$736,000
Net income
251,000
$987,000
Preferred dividends
$27,630
Common...
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