YOU MUST SHOW WORK ON ALL PROBLEMS TO RECEIVE CREDIT! ABC Corp. provides you with the...
YOU MUST SHOW WORK ON ALL PROBLEMS TO RECEIVE CREDIT!
ABC Corp. provides you with the following data:
Sales: $500,000; Selling Expense $40,000; Operating profit; $300,000; Interest expense: $25,000; Net Income: $100,000; Common stock (par): $16,000; Paid-in capital in exces of par: $214,000; total number of common shares outstanding: 46,000.
a. Given the above (and asuming no flotation costs) what was the price of a share of common stock when it was sold? (8 points)
b. Assuming no preferred stock, what was the EPS? (2 points)
Homework Answers
|
1. Price of common stock = (16,000+214,000)/46,000 = 5 per share |
|
2. Eps = Net income/Outstanding common shares = 100,000/46,000 = 2.17 per share |
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