Refer to Figure 2. What is the amount of Rosa's retained earnings? $500,000 $600,000 $650,000 $550.000
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- Del Rio began Rio Enterprises on January 1 with 200 units of inventory. During the year, 500 additional units were purchased, 500 units were sold, and Del ended the year with 200 units. Del is very satisfied with his first year of business although the cost of replacing his inventory rose continually throughout the year. The 500 units sold for a total of 320,000 and the 500 units purchased to replace them cost 256,000, so his cash account has increased by 64,000. Del is concerned however because he has three obligations yet to meet: taxes, dividends, and his wife. Federal and state income taxes will take 40% of his income. His investors are to receive dividends equal to half of any income after taxes are paid. And finally, Del promised his wife a big trip to Hawaii if she let him quit his job as a professor and start his own business. He promised her hed make at least 50,000 after taxes. That will give us 25,000 after paying off the investors. Del kept fairly good records during the year and knows the specific cost of each inventory unit sold. He has prepared the following table to summarize his purchases and sales. Reset the purchase prices to their original values (cells C11 through C14). Suppose Del had purchased 250 units on November 20 rather than 150. Enter 250 in cell C14 and alter column G in the Data Section. Explain what happens to net income under each inventory cost flow assumption and why. Also, what management implications might this have for Del?Can you please help me answer number 3 on the screen shot? The financial statements and additional info are listed below. Thank you Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 500,000 shares of common stock were outstanding. The interest rate on the bonds, which were sold at their face value, was 10%. The income tax rate was 40% and the dividend per share of common stock was $0.40 this year. The market value of the company’s common stock at the end of the year was $21. All of the company’s sales are on account. Weller CorporationComparative Balance Sheet(dollars in thousands) This Year Last Year Assets Current assets: Cash $ 1,110 $ 1,350 Accounts receivable, net 9,600 6,800 Inventory 13,300 11,900 Prepaid expenses 660 500…Can you help me answer numbers 4 and 5 in the screen shot? The financial statements and additional info are below. Thank you Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 840,000 shares of common stock were outstanding. The interest rate on the bonds, which were sold at their face value, was 12%. The income tax rate was 40% and the dividend per share of common stock was $0.40 this year. The market value of the company’s common stock at the end of the year was $20.00. All of the company’s sales are on account. Weller CorporationComparative Balance Sheet(dollars in thousands) This Year Last Year Assets Current assets: Cash $ 6,344 $ 6,400 Accounts receivable, net 12,700 9,300 Inventory 9,900 8,360 Prepaid expenses 1,840 2,180…
- Home Realty, Incorporated, has been operating for three years and is owned by three investors. J. Doe owns 60 percent of the total outstanding stock of 9,000 shares and is the managing executive in charge. On December 31, the following financial items for the entire year were determined: sales revenue, $231,000; salaries and wages expense, $110,000; interest expense, $7,600; advertising expenses, $9,675; and income tax expense, $19,800. Also during the year, the company declared and paid the owners dividends amounting to $16,000. Prepare the company’s income statement.Please help me solve numbers 1,2,3 and 4 on the screen shot. And below are the financial statements. Thank you Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 960,000 shares of common stock were outstanding. The interest rate on the bonds, which were sold at their face value, was 12%. The income tax rate was 40% and the dividend per share of common stock was $0.40 this year. The market value of the company’s common stock at the end of the year was $26. All of the company’s sales are on account. Weller CorporationComparative Balance Sheet(dollars in thousands) This Year Last Year Assets Current assets: Cash $ 2,036 $ 3,020 Accounts receivable, net 16,000 9,050 Inventory 10,500 8,840 Prepaid expenses 1,960 2,420…Can you please help me answer number 2, 3 & 4 on the screen shot? The financial statments and additional info are listed below. Thank you Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 960,000 shares of common stock were outstanding. The interest rate on the bonds, which were sold at their face value, was 12%. The income tax rate was 40% and the dividend per share of common stock was $0.40 this year. The market value of the company’s common stock at the end of the year was $26. All of the company’s sales are on account. Weller CorporationComparative Balance Sheet(dollars in thousands) This Year Last Year Assets Current assets: Cash $ 2,036 $ 3,020 Accounts receivable, net 16,000 9,050 Inventory 10,500 8,840 Prepaid expenses 1,960…
- Can you please help me answer number 3 listed on the screen shot? The financial statments are listed below. Thank you Comparative financial statements for Weller Corporation, a merchandising company, for the fiscal year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 500,000 shares of common stock were outstanding. The interest rate on the bonds, which were sold at their face value, was 10%. The income tax rate was 40% and the dividend per share of common stock was $1.00 last year and $0.65 this year. The market value of the company’s common stock at the end of the year was $21. All of the company’s sales are on account. Weller CorporationComparative Balance Sheet(dollars in thousands) This Year Last Year Assets Current assets: Cash $ 1,190 $ 1,290 Accounts receivable, net 9,400 7,200 Inventory 12,100 12,200 Prepaid expenses 800…Lara’s Inc. is currently an unlevered firm with 450,000 shares of stock outstanding, with a market price of $15 a share. The company has earnings before interest and taxes of $314,000. Lara's met with his bankers, Warne Incorporated and agreed to borrow $825,000, at 5 percent. You are an ardent investor and you currently own 20,000 shares of Lara's stock. If you seek to unlevered your position; how many shares of Lara's stock will you continue to own, if you can loan out funds at 5 percent interest? Ignore taxes in your deliberations. Kindly show all workingsThe following table gives the balance sheet for Travellers Inn Inc. (TII), a company that was formed by merging a number of regional motel chains. Travellers Inn: (Millions of Dollars) Cash $ 10 Accounts payable $ 10 Accounts receivable 20 Accruals 15 Inventories 20 Short-term debt 0 Current assets $ 50 Current liabilities $ 25 Net fixed assets 50 Long-term debt 30 Preferred stock (50,000 shares) 5 Common equity Common stock (3,800,000 shares) $ 10 Retained earnings 30 Total common equity $ 40 Total assets $100 Total liabilities and equity $100 The following facts also apply to TII: The long-term debt consists of 29,412 bonds, each having a 30-year maturity, semiannual payments, a coupon rate of 7.6%, and a face value of $1,000. Currently, these bonds provide investors with a yield to maturity of 11.8%. If new bonds were sold, they…
- The following table gives the balance sheet for Travellers Inn Inc. (TII), a company that was formed by merging a number of regional motel chains. Travellers Inn: (Millions of Dollars) Cash $ 10 Accounts payable $ 10 Accounts receivable 20 Accruals 15 Inventories 20 Short-term debt 0 Current assets $ 50 Current liabilities $ 25 Net fixed assets 50 Long-term debt 30 Preferred stock (50,000 shares) 5 Common equity Common stock (3,800,000 shares) $ 10 Retained earnings 30 Total common equity $ 40 Total assets $100 Total liabilities and equity $100 The following facts also apply to TII: The long-term debt consists of 29,412 bonds, each having a 30-year maturity, semiannual payments, a coupon rate of 7.6%, and a face value of $1,000. Currently, these bonds provide investors with a yield to maturity of 11.8%. If new bonds were sold, they…Easter Bunny Inc. has been in business for 5 years. They have employed you as a staff accountant. At the start of the year, they have 150,000 shares of common stock outstanding (par value of $1), no preferred stock, 10,000 shares of treasury stock (bought for $18/share), and retained earnings of $720,000. During the year, the following events occur: January 1 - Issue 15,000 shares of common stock (par value of $1) for $23/share. February 28 - The Board of Directors declares a cash dividend of $0.25/share. The date of record will be March 15. March 15 - The Board of Directors compiles the list of stockholders on the Date of Record for the cash dividend. March 23 - The cash dividend is paid out to stockholders on record. June 3 - Easter Bunny sells 8,000 shares of its treasury stock for $26/share. July 1 - Easter Bunny's Board of Directors decides to issue a 30% stock dividend, to be issued immediately. Market value of the stock is $12/share. September 10 - Easter Bunny sells 1,000…You have a thing for Tony Stark and jumped at the opportunity to purchase shares of stock in Ironman Brew Co. on January 1st for $85 per share. On December 31 of that year, the stock was valued at $100 per share, the company reported net income of $10 million, and they had paid their shareholders $1.60 per share in dividends during the year. There are 1.25 million shareholders. What were the company's earnings per share during this time period (round to two decimal places)? Group of answer choices $1.60 $8.00 $6.40 $15.00