Calculate the earnings per share of common stock for each year. Canna, Inc. Comparative Balance Sheet December

Calculate the earnings per share of common stock for each year.

Transcribed Image Text:

Canna, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Current Assets 124540 135750 55705 315995 112250 Cash Accounts Receivable (Net) Inventory 1lolzlololo 6 0800 2810이5|0 Total Current Assets Property, Plant, and Equipment Buildings (Net) Equipment (Net) 157600 65950 56000 279550 175100 63 85lol lololol Land 15 Total Property, Plant, and Equipment Total Assets 294950 5 95 545 575ololo Liabilities and Stockholders' Equity Current Liabillities Accounts Payable 155000 40000 119|5|이이이 160000 45000 205000 Other Current Liabilities Total Current Liabilities Long-Term Liabilities Bonds Payable Total Long-Term Liabilities 65000 65000 260000 75000 75000 Total Liabilities 28101이00 Stockholders' Equity Common Stock ($1 par) 2101000이 200000 95000 295000 Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 1135545 3 35 545 5 95 545 5715101010 Canna, Inc. Comparative Income Statement Years Ended December 31, 2019 and 2018 Amounts 2019 2018 Sales Less Sales Returns and Allowances Net Sales Cost of Goods Sold Gross Profit on Sales Selling Expenses General Expenses Total Expenses 1635750 9 6750 1539000 106 6 300 4 72700 2 15000 2 10000 150095o 82950 14 18000 992600 | 4 25400 205000 190000 395000 30400 45 60 425000 4 7700 7 155 4 0545 Net Income before Income Taxes Income Tax Expense Net Income after Income Taxes 25840