1-

Platinum Company reports net income of $670,000 and declared a cash dividend of $1.8 per share on each of its 170,000 shares of common stock outstanding. What are earnings per share?

Multiple Choice

• $3.94 per share

• $5.74 per share

• $2.14 per share

• $1.80 per share

2-

On January 1, Year 2, Carleton Corporation had 44,000 shares of $4 par value common stock outstanding. On March 31, Year 2, Carleton issued an additional 12,000 shares in exchange for a building. What number of shares will be used in the computation of earnings per share for Year 2?

3-

As of December 31, Year 1, Valley Company has $12,660 cash in its checking account, as well as several other items listed below:

Bank credit card slips signed by customers	$ 1,275
Money market fund balance	$ 22,000
Investment in U.S. Treasury bills, mature within 90 days	$ 40,000
Checks received from customers, but not yet deposited in the bank	$ 1,620
Investment in 4,500 shares of Coca-Cola capital stock	$ 51,000

What amount should be shown in Valley's December 31, Year 1, balance sheet as "Cash and cash equivalents"?