Answered step by step
Verified Expert Solution
Question
1 Approved Answer
4.00 points Selected data for Putin Company for 2014 and additional information on industry averages follow. Earnings (net income) $ 195,600 Preferred stock (13,200 shares
4.00 points
| Selected data for Putin Company for 2014 and additional information on industry averages follow. |
| Earnings (net income) | $ | 195,600 | ||||
| Preferred stock (13,200 shares at $50 par, 4%) | $ | 660,000 | ||||
| Common stock (45,000 shares no par, market value $56) | 510,000 | |||||
| Retained earnings | 562,500 | |||||
| $ | 1,732,500 | |||||
| Less: Treasury stock | ||||||
| Preferred (1,800 shares) | $ | 54,000 | ||||
| Common (1,800 shares) | 24,000 | 78,000 | ||||
| Total stockholders equity | $ | 1,654,500 | ||||
| Industry averages | |||
| Earnings per share | $ | 5.20 | |
| Price-earnings ratio | 9.50 | ||
| Return on equity | 11.20 | % |
| Required |
| a. | Calculate the Putin Companys ratios.(Roundyouranswers to 2 decimal places.) |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Intermediate Accounting Volume 1
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
12th Canadian edition
119-49633-5, 1119496497, 1119496330, 978-1119496496
