Kelley Company reports $960,000 of net income and declares $120,000 of cash dividends on its preferred stock for the year. At year-end, the company had 400,000 weighted-average shares of common stock. 1. What amount of net income is available to common stockholders? 2. What is the company’s basic EPS? Round your answer to the nearest whole cent.

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A: Formula: EPS = ( Net income - Preferred dividends ) / Total weighted average outstanding shares

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A: Since multiple sub-parts are posted, as per the guidelines only the first three sub-parts will be…

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A: Theory part: EPS: Full form of EPS is Earnings per share. This ratio tells the profit earned on each…

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A: In order to determine the Earning per share, the Earnings available to common shareholders are…

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A: Formula: Earnings per share = Earnings available for Common Stockholders’/ Weighted Average number…

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A: >Total Stockholder's equity is a section of Balance Sheet, and a part of accounting equation.…

Q: What is Jupiter Corporation’s weighted average number of shares for the year?

A: Answer:   975

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A: Earnings per share (EPS): The amount of net income available to each shareholder per common share…

Q: A company had 125,000 shares of common stock outstanding on January 1 and then sold 35.000…

A: Earnings per share is an financial ratio which was used to find the company's profitability. = Net…

Q: During Year 3, Blue Ridge Corporation reported after-tax net income of $4,150,000, During the year,…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: During Year 3, Blue Ridge Corporation reported after-tax net income of $4,150,000, During the year,…

A: Dividend yield = Dividend per share to common stockholders / Market price per share

Q: Angola Corporation reported a net income of $154,000, declared dividends on common stock of $60,000,…

A: Given the following information: Net income: $154,000 Declared dividends on common stock $60,000…

Q: Kelley Company reports $960,000 of net Income and declares \$120,000 of cash dividends on its…

A: Earnings per share refer to the amount earned by each stockholder. This can be identified by…

Q: Richards Corporation had net income of $305,067 and paid dividends to common stockholders of…

A: Price earnings ratio: It is the ratio used for valuing the company and to measure whether the…

Q: Ringmeup Inc. had net income of $112,400 for the year ended December 31, 2019. At the beginning of…

A: Basic earnings per share = (Net Income - Preference Dividend)/ Weighted number of shares outstanding

Q: Brunleigh Corporation earned net income of $200,000 this year. The company began the year with…

A: Formula: Weighted average number of shares = Number of shares issued x Time period

Q: Ringmeup Inc. had net income of $186,400 for the year ended December 31, 2019. At the beginning of…

A: Basic Earnings per share of common stock is computed by dividing the Net income less preferred…

Q: Ringmeup Inc. had net income of $197,300 for the year ended December 31, 2019. At the beginning of…

A: Earnings Per Share: =Earnings attributable to shareholders / Weighted average number of shares…

Q: Ecker Company reports $1,800,000 of net income and declares $252,000 of cash dividends on its…

A: Basic earnings per share = Net income available to common stockholders / Weighted average shares of…

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A: The weighted average number of shares is based on the number of shares issued and the duration of…

Q: Fuentes Corporation reported a net income of $152,000, declared dividends on common stock of…

A: Given the following information: Net income: $152,000 Declared dividends on common stock $50,000…

Q: Ringmeup Inc. had net income of $106,300 for the year ended December 31, 2019. At the beginning of…

A: Computation of weighted average outstanding sharesFor the year ended December 31, 2019 Particulars…

Q: Wendell Company provided the following pertaining to its accounting year that ended December 31,…

A: Additional paid-in capital on Common stock sold = Sale value of Common stock - Par value of Common…

Q: During Year 3, Zachary Corporation reported after-tax net income of $3,595,000. During the year, the…

A: Introduction: Net income is the portion of a company's revenue that remains after deducting all…

Q: Longmont Corporation earned net income of $85,000 this year. The company began the year with 700…

A: Formula: EPS = ( Net income - Preferred dividend)  / ( Outstanding common shares )

Q: James Corporation earned net income of $94,000 this year. The company began the year with 500 shares…

A: EPS = (Net income - Preferred dividend)/Weighted average number of shares

Q: The Harbinger Corporation reported net income of $6 million and total assets of $7 million in its…

A: Earnings per share (EPS): The amount of net income available to each shareholder per common share…

Q: James Corporation earned net income of $90,000 this year. The company began the year with 600 shares…

A: Earning per share (EPS) is the ratio that describes how much profit is earned by the company for…

Q: During Year 3, Finch Corporation reported after-tax net income of $3,645,000. During the year, the…

A: Answer a) Calculation of Earnings per share Earnings per share = Earnings available for common…

Q: Jupiter Corporation earned net income of $90,000 this year. The company began the year with 600…

A: EPS = (Net income - Preferred dividend)/Weighted average number of shares Numerator = Net income -…

Q: James Corporation earned net income of $85,000 this year. The company began the year with 800 shares…

A: Given:  Net income = $85000 Beginning shares = 800 Issued shares = 700 Preference dividend = $4,500

Q: Ringmeup Inc. had net income of $151,000 for the year ended December 31, 2019. At the beginning of…

A: Calculation of Basic Earnings per share: Thus, Basic Earnings per share is $2.84

Q: Crane Jewelers management announced that the company had net earnings of $4,356,000 for this year.…

A: Given: Net earnings = $4,356,000 Shares outstanding = $1,613,000 Stock price = $ 68.91

Q: Jupiter Corporation earned net income of $214,209 this year. The company began the year with 4,714…

A: Weighted average no of share calculation To calculate weight shares  we have to consider shares at…

Q: During Year 3, Blue Ridge Corporation reported after-tax net income of $4,150,000. During the year,…

A: a. EPS = EAT - Preferred dividend / No. of common equity shareEAT = Earning after Tax EAT 4150000…

Q: Junkyard Arts, Inc., had earnings of $174,300 for the year. The company had 24,000 shares of common…

A: Earnings per share refers to the amount earned by each stockholder. This can be identified by…

Q: Errol Corporation earned net income of $200,000 this year. The company began the year with 10,000…

A: Introduction: EPS: EPS stands for Earnings per share. It tell the profit earned on each outstanding…

Q: During Year 3, Solomon Corporation reported after-tax net income of $3,635,000. During the year, the…

A: The company can raise funds by various methods. Some of them are, by way of issuing common stock,…

Q: Marutzky Corporation had a net income of $2,200,000 for the year 2018.  On January 1, 2018, the…

A: Earning per share is calculated to know the earnings share, every shareholder would get for the…

Q: Oregon, Inc. reported net income of $105,000. During the current year, the company had 5,000 shares…

A: The earnings per share is calculated as net income divided by outstanding shares.

Q: At the end of the accounting period, Houston Company had $8,000 of par value common stock issued,…

A: Stockholders equity include common stock, retained earning but does not include treasury stock.

Q: Ringmeup Inc. had net income of $148,800 for the year ended December 31, 2019. At the beginning of…

A: Weighted average number of outstanding shares = 38,000×412 + 53,000×712 + 48,300×112…

Q: On January 1, 2021, a company had 499,000 shares of common stock outstanding. During the year, it…

A: Weighted average number of shares outstanding is the average number of shares that are outstanding…

Q: nc. reports net income of $350,000. It declares and pays preferred dividends of $50,000 for the…

A: Earnings per share  = (Net income - preferred dividend) / Weighted-average number of common shares…

Q: Longmont Corporation earned net income of $90,000 this year. The company began the year with 600…

A: Introduction: EPS : EPS stands for Earnings per share. It tells the profit earned on each…