The Fitness Studio, Inc.’s, 2021 income statement lists the following income and expenses: EBITDA = $957,000, EBIT = $782,000, interest expense = $134,000, and taxes = $226,800. The firm has no preferred stock outstanding and 100,000 shares of common stock outstanding. Calculate the 2021 earnings per share. (Round your answer to 2 decimal places.) Earning per share ___________

The Fitness Studio, Inc.’s, 2021 income statement lists the following income and expenses: EBITDA = $957,000, EBIT = $782,000, interest expense = $134,000, and taxes = $226,800. The firm has no preferred stock outstanding and 100,000 shares of common stock outstanding. Calculate the 2021 earnings per share. (Round your answer to 2 decimal places.) Earning per share ___________

Name: The Fitness Studio, Inc.’s, 2021 income statement lists the following
Uploaded: 2024-03-05T11:47:04.000Z
Channel: Bartleby
Description: The Fitness Studio, Inc.’s, 2021 income statement lists the following income and expenses: EBITDA = $957,000, EBIT = $782,000, interest expense = $134,000, and taxes = $226,800. The firm has no preferred stock outstanding and 100,000 shares of common

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 22EB: Errol Corporation earned net income of $200,000 this year. The company began the year with 10,000...

See similar textbooks

Similar questions

Comprehensive The following are Farrell Corporations balance sheets as of December 31, 2019, and 2018, and the statement of income and retained earnings for the year ended December 31, 2019: Additional information: a. On January 2, 2019, Farrell sold equipment costing 45,000, with a book value of 24,000, for 19,000 cash. b. On April 2, 2019, Farrell issued 1,000 shares of common stock for 23,000 cash. c. On May 14, 2019, Farrell sold all of its treasury stock for 25,000 cash. d. On June 1, 2019, Farrell paid 50,000 to retire bonds with a face value (and book value) of 50,000. e. On July 2, 2019, Farrell purchased equipment for 63,000 cash. f. On December 31, 2019. land with a fair market value of 150,000 was purchased through the issuance of a long-term note in the amount of 150,000. The note bears interest at the rate of 15% and is due on December 31, 2021. g. Deferred taxes payable represent temporary differences relating to the use of accelerated depreciation methods for income tax reporting and the straight-line method for financial statement reporting. Required: 1. Prepare a spreadsheet to support a statement of cash flows for Farrell for the year ended December 31, 2019, based on the preceding information. 2. Prepare the statement of cash flows.
Errol Corporation earned net income of $200,000 this year. The company began the year with 10,000 shares of common stock and issued 5,000 more on April 1. They issued $7,500 in preferred dividends for the year. What is the numerator of the EPS calculation for Errol?
Assume that as of January 1, 20Y8, Sylvester Con- suiting has total assets of $500,000 and total assets of $150,000. As of December 31, 20Y8, Sylvester has total liabilities of $200,000 and total stockholders’ equity of $400,000. (a) What was Sylvester’s stockholders’ equity as of January 1, 20Y8? (b) Assume that Sylvester did not pay any dividends during 20Y8. What was the amount of net income for 20Y8?
Longmont Corporation earned net income of $90,000 this year. The company began the year with 600 shares of common stock and issued 500 more on April 1. They issued $5,000 in preferred dividends for the year. What is the numerator of the EPS calculation for Longmont?
The Fitness Studio, Inc.’s 2018 income statement lists the following income and expenses: EBIT = $773,500, interest expense = $100,000, and taxes = $234,500. The firm has no preferred stock outstanding and 100,000 shares of common stock outstanding. Calculate the 2018 earnings per share.
At the end of 2021, PT. Wardah International announced a gross profit of $1 million. The costs incurred during the year are as follows: $345,000 in operating expenses and $125,000 in interest expenses. 21% corporate tax and declared $57,000 total preferred stock dividends. Calculate: (a) Compute the earnings available for common stockholders? (b) Calculate the increase in retained earnings for 2021 If the firm provides $4.25 common stock dividend. The company has 15,000 shares of common stock outstanding.
The Sleep Company had the following operating results for 2021-2022. In addition, the company paid dividends in both 2021 and 2022 of $69,000 per year and made capital expenditures in both years of $30,000 per year. The company's stock price in 2021 was $8 and $7 in 2022. The industry average earnings multiple for the mattress industry was 9 in 2022 and the free cash flow and sales multiples were 18 and 1.5, respectively. The company is publicly owned and has 1,600,000 shares of outstanding stock at the end of 2022. Balance Sheet, December 31, 2022 2021 Cash $ 370,000 $ 130,000 Accounts Receivable $ 380,000 $ 430,000 Inventory $ 280,000 $ 330,000 Total Current Assets $ 1,030,000 $ 890,000 Long-lived Assets 1,380,000 1,400,000 Total Assets $ 2,410,000 $ 2,290,000 Current Liabilities $ 230,000 $ 330,000 Long-term Debt 630,000 530,000 Shareholder Equity 1,550,000 1,430,000 Total Debt and Equity $ 2,410,000 $ 2,290,000 Income Statement, for year ended…
The Sleep Company had the following operating results for 2021-2022. In addition, the company paid dividends in both 2021 and 2022 of $60,000 per year and made capital expenditures in both years of $30,000 per year. The company's stock price in 2021 was $8 and $7 in 2022. The industry average earnings multiple for the mattress industry was 9 in 2022 and the free cash flow and sales multiples were 18 and 1.5, respectively. The company is publicly owned and has 1,200,000 shares of outstanding stock at the end of 2022. Balance Sheet, December 31, 2022 2021 Cash $ 340,000 $ 100,000 Accounts Receivable $ 350,000 $ 400,000 Inventory $ 250,000 $ 300,000 Total Current Assets $ 940,000 $ 800,000 Long-lived Assets 1,080,000 1,100,000 Total Assets $ 2,020,000 $ 1,900,000 Current Liabilities $ 200,000 $ 300,000 Long-term Debt 600,000 500,000 Shareholder Equity 1,220,000 1,100,000 Total Debt and Equity $ 2,020,000 $ 1,900,000 Income Statement, for year ended…
Below is the balance sheet for Glucose Control Company as of Dec. 31, 2022. The company had an EBIT of 88,000 in 2022, a tax rate of 34% and an after-tax cost of capital of 16%. The current stock price is $43 and there are 4,500 shares outstanding. Assets Liabilities and Equity Cash 11,000 Accounts payable 20,000 Marketable securities 2,000 Notes payable 6,000 Accounts receivable 4,000 Current liabilities 26,000 Inventory 35,000 Long-term debt 95,000 Current assets 52,000 Total liabilities 121,000 Machines 34,000 Paid-in capital 20,000 Real estate 80,000 Retained earnings 25,000 Fixed assets 114,000 Equity 45,000 Total assets 166,000 Total liab. & equity 166,000 What was the market value added (MVA)? What was NOPAT for 2022? What was total invested capital at the end of 2022? What was the economic value added (EVA)?
On July 1, 2021, the assets and liabilities of Lui Company are as follows: Cash, $96,000; Accounts Receivable, $75,800; Prepaid Rent, $12,000; Land, $318,000; Accounts Payable, $58,700; Mortgage Payable, $162,000. What is the amount of stockholders’ equity as ofbJuly 1, 2020? 722,500 281,100 296,100 assuming that 15,000 of dividends were paid 125,100
Bowles Inc. is prepared to report the following income statement (shown in thousands of dollars) for the year 2019: Sales $15,200 Operating costs including depreciation 11,900 EBIT $ 3,300 Interest expense 300 EBT $ 3,000 Taxes 40% 1,200 Net income $ 1,800 ===== Prior to reporting this income statement, the company wants to determine its annual dividend. The company has 500,000 shares of stock outstanding and its stock trades at $48 per share. The company had a 40% dividend payout ratio in 2019. If Bowles wants to maintain this payout ratio in 2020, what will be the current dividend yield on the company’s stock? If the company maintains this 40% payout ratio, what will be the current dividend yield on the company’s stock? The company reported net income of $1.5 million in 2019. Assume that the number of shares…
Bowles Inc. is prepared to report the following income statement (shown in thousands of dollars) for the year 2019: Sales $15,200 Operating costs including depreciation 11,900 EBIT $ 3,300 Interest expense 300 EBT $ 3,000 Taxes 40% 1,200 Net income $ 1,800 ===== Prior to reporting this income statement, the company wants to determine its annual dividend. The company has 500,000 shares of stock outstanding and its stock trades at $48 per share. The company had a 40% dividend payout ratio in 2019. If Bowles wants to maintain this payout ratio in 2020, what will be the current dividend yield on the company’s stock? If the company maintains this 40% payout ratio, what will be the current dividend yield on the company’s stock? The company reported net income of $1.5 million in 2019. Assume that the number of shares…