ACC 309 module 3 EPS

can you please double check my work.

based on the revised reports i'ved attached, Can you please DOUBLE CHECK the Earnings Per Share reports.

Home Insert Page Layout Formula Data Review General to com Conditiona Format Painter L Clipboard T Font RE 7Merge & Center Alignment % Number A B C D E EARNINGS PER SHARE Determine the impact on earnings per share caused by each expansion plan option NOTES TO THE FINANCIAL STATEMENTS - Prepare in a Word document - see the rule for final project A. Compose appropriate footnotes within a statement of comprehensive income in accordance with applicable accounting standards, such as GAAP, International Financial Reporting Standards, and SEC, as applicable. MANAGEMENT BRIEF - Prepare in a Word document- see the rubrie for final project 1. Evaluate the company's current performance based on the outcomes of relevant ratio analysis. J. Discuss types of accounting changes encountered and when retrospective and prospective approaches should be used K. Predict the impact of new credit policies or a change in product or markets based on relevant ratio analysis. L. Discuss relevant accounting standards for informing the company's financial reporting strategies. M. Explain how the four-step process was used for effectively correcting and reporting errors in the revision process. FINANCIAL INFORMATION FOR THIS MILESTONE Stockholder Equity / Earnings per share Peyton Approved prides itself on transparency with shareholders and investors. The company has added two storefront locations and launched a new marketing campaign, which is estimated to bring in 20.000 new customers over the next 6 months. The company expects this expansion will require an additional $1,000,000 of capital and generate an additional $600,000 of after-t. rofit. The options are: 1) Issuing an additional $1,000,000 of 10%, 100-par convertible preferred stock (same class as is currently outstanding) 2) Issue an additional $1,000,000 of 8% convertible bonds (same terms as the existing issue) 3) $500,000 each of preferred stock and bonds Other Items On December 31, 20xx, the company repaired a packaging machine at cost of $27,000.00. It is expected that the repair will extend the life of the machine by four years. No depreciation is necessary this year. . The company spent 550,000 to obtain and defend a patent for its formula for dog treats. The patent took effect on 1/1/20xx and provides 20 years of protection. The $50,000 amount was incorrectly charged to Misc. Expense O Instructions Miestone Mine care Instructions - Final Prel Bab Formatting as Table Trial Balance 2017 Peyton Approved Balance Sheet As of December 31, 20XX Current Assets: Cash Marketable Securities Accounts Receivable Baking Supplies Merchandise Inventory Prepaid Rent Prepaid Insurance Misc. Supplies 1,488,999.34 5235,000.00 7,092.495 88 1,605,098.52 128,152 63 71,877.07 207,834 14 17.647 42 Liabilities and Owners' Equity Current Liabilities: Accounts Payable 1,555 212 85 Wages Payable 250,203 31 Interest Payable 21,888 22 Current Portion of Bonds Payable 1,000,000 00 Income taxes currently payable 990 167.91 Lease Liability 101513.84 Deferred tax liability 52325 25 Accrued Pension Liability 107041 70 Accrued Employee Health Insurance 43,718 91 Total Current Assets 15,847,105.00 Total Current Liabilities 4,122,071.99 Long Term Liabilities: Bonds Payable 10% 20 year Long Term Fixed Assets: 4,000,000.00 250,000.00 1,250,000.00 2,382,653.84 47,500.00 328 282.00 Total Long Term Liabilities: Building Baking Equipment Patent Accumulated Depreciation Net Fixed assets 4,000,000.00 3,601,871.84 Total Liabilities: 8,122,071.99 500,000.00 Preferred Stock - (10,000 authorized 5,000 issued, 10%, 5100 par value) Common Stock - (2.000.000 shares authorized, 1,750,000 issued, S1 par) Retained Earnings 1,750,000 00 9,076,904.85 Total Equity 11,326,904 85 19,448,976.84 Total Assets 19,448,976.84 Total Liabilities & Equity na Prel Balance sheet 2017 Prel releaned Caming 2012 2011 Page Layout Formulas D ata Renew View Cut Arial Wrap Text Accounting e Copy E Merge & Center Si % Format Painter Clipboard Conditional Formatting as Alignment Number H10 -SUM(H5:H9) HOME Peyton Approved Statement of Retained Earnings For Year Ended 12/31/20XX Beginning Balance: plus Comprehensive Income 2,213,122.59 12,163,78226 Nimno 009 A less Dividends: Preferred Common Ending Balance (50,000.00) (5,250,000.00 9,076,904.85 ! ARN Ahonen HOME Peyton Approved Income Statement For Year Ended 12/31/20XX $ 33,881,157 15 124,795.80 34,005,952.95 Bakery Sales Merchandise Sales Total Revenues Cost of Goods Sold - Baked Cost of Goods Sold - Merchandise Total Cost of Goods Sold Gross Profit 10,954.907.36 88,994.79 11,043,902.15 22,962,050.80 Operating Expenses: Rent Expense Wages Expense Misc. Supplies Expense Repairs and Maintenance Business License Expense Misc. Expense Depreciation Expense Insurance Expense Advertising Expense Interest Expense Telephone Expense Pension Expense Retired Employees Health Ins Patent Amortization 1,556,731.95 2,604,526.23 263,224.56 20,353.05 211,757.65 91,171.08 649,444 31 112.937.69 160,413.49 489.778.96 50.821.34 107,041.70 43,718.91 2.500.00 6,364,420.92 Total Operating Expenses: 16,597,629.88 Earnings before Income Tax 4,168,847.62 Income Taxes Deferred Tax Expense Total Tax Expense 4,168,847.62 12.428,782.26 Net Income 265,000.00 Unrealized loss on securities held for sale 12. 163.782 26 Other Comprehensice Income Instructions final P rel Balanc callations Instructions Milestone Milestone my Version 4790,000 7.09 Fully diluted EPS Peyton plans to raise $1,000,000 milion of additional capital for the cofing year. They anticipate that it will enable them to earn an additional $600,000 after tax What would be the impact on earnings per share if the raise the $1,000,000 by: 10,000 share of 10% $100 par value convertible preferred stock, where share can be coverted into 10 shares of Peyton common stock? b) issuing $1,000,000 of 8% convertible bond, each $1,000 fond can be converted into? 5 shares of Peyton common stock? c) $500,000 of each of the above? Net Income Less: Preferred Dividends Earnings Available to Common Shareholders Common Shares Outstanding Basic EPS 12,428,782.26 50,000.00 12,378,782 26 1.750,000 7.07 If al preferred shares are converted: Net Income Additional Common Shares Common Shares Outstanding after conversion EPS if preferred shares converted Preferred shares are antidilutive 12,428.782.26 10,000.0 1760.000.0 7.03 If al bonds are converted: Net Income Less: Preferred Dividends Add back interest on bonds, net of income tax 'Earnings Available to Common Shareholders Additional Common Shares Common Shares Outstanding after conversion 12.428.782.26 50,000.00 320,000.00 12,638,782.26 40.000 1.790.000 Instructions. Milestone Milestone calculation Instructions final Type here to search O I e Font Alignment board 11 - HOME F Peyton Approved Earnings per Share For Year Ended 12/31/20XX Net Income Less: Preferred Dividends Earnings Available to Common Shareholders Common Shares Outstanding Basic EPS 12.428.782.26 (50,000.00) 12,378,782 26 1.750,000 7.07 If all preferred shares are converted: Net Income Additional Common Shares Common Shares Outstanding after conversion EPS if preferred shares converted Preferred shares are antidilutive 12,428,782 26 10.000.0 1,760,000 7.03 If all bonds are converted: Net Income Less: Preferred Dividends Add back interest on bonds, net of income tax Earnings Available to Common Shareholders Additional Common Shares Common Shares Outstanding after conversion Fully diluted EPS 12.428,782 26 150,000.00) 320,000.00 12.698.782 40.000 1.790,000 7.09 Peyton plans to raise $1.000.000 million of additional capital for the cofung year. They anticipate that it will enable them to earn an additional $600,000 after fax What would be the impact on earnings per share if the raise the $1,000,000 by: a) issuing 10.000 share of 10% $100 par value convertible e ferred stock where share can be coverted into 10 shares of Peston common stock? b une 51.000.000 of 8% convertible bond, each 1 000 fond can be converted into 5 shares of Peyton common stock? c) $500,000 of each of the above? Home Insert Page Layout Formula Data Review General to com Conditiona Format Painter L Clipboard T Font RE 7Merge & Center Alignment % Number A B C D E EARNINGS PER SHARE Determine the impact on earnings per share caused by each expansion plan option NOTES TO THE FINANCIAL STATEMENTS - Prepare in a Word document - see the rule for final project A. Compose appropriate footnotes within a statement of comprehensive income in accordance with applicable accounting standards, such as GAAP, International Financial Reporting Standards, and SEC, as applicable. MANAGEMENT BRIEF - Prepare in a Word document- see the rubrie for final project 1. Evaluate the company's current performance based on the outcomes of relevant ratio analysis. J. Discuss types of accounting changes encountered and when retrospective and prospective approaches should be used K. Predict the impact of new credit policies or a change in product or markets based on relevant ratio analysis. L. Discuss relevant accounting standards for informing the company's financial reporting strategies. M. Explain how the four-step process was used for effectively correcting and reporting errors in the revision process. FINANCIAL INFORMATION FOR THIS MILESTONE Stockholder Equity / Earnings per share Peyton Approved prides itself on transparency with shareholders and investors. The company has added two storefront locations and launched a new marketing campaign, which is estimated to bring in 20.000 new customers over the next 6 months. The company expects this expansion will require an additional $1,000,000 of capital and generate an additional $600,000 of after-t. rofit. The options are: 1) Issuing an additional $1,000,000 of 10%, 100-par convertible preferred stock (same class as is currently outstanding) 2) Issue an additional $1,000,000 of 8% convertible bonds (same terms as the existing issue) 3) $500,000 each of preferred stock and bonds Other Items On December 31, 20xx, the company repaired a packaging machine at cost of $27,000.00. It is expected that the repair will extend the life of the machine by four years. No depreciation is necessary this year. . The company spent 550,000 to obtain and defend a patent for its formula for dog treats. The patent took effect on 1/1/20xx and provides 20 years of protection. The $50,000 amount was incorrectly charged to Misc. Expense O Instructions Miestone Mine care Instructions - Final Prel Bab Formatting as Table Trial Balance 2017 Peyton Approved Balance Sheet As of December 31, 20XX Current Assets: Cash Marketable Securities Accounts Receivable Baking Supplies Merchandise Inventory Prepaid Rent Prepaid Insurance Misc. Supplies 1,488,999.34 5235,000.00 7,092.495 88 1,605,098.52 128,152 63 71,877.07 207,834 14 17.647 42 Liabilities and Owners' Equity Current Liabilities: Accounts Payable 1,555 212 85 Wages Payable 250,203 31 Interest Payable 21,888 22 Current Portion of Bonds Payable 1,000,000 00 Income taxes currently payable 990 167.91 Lease Liability 101513.84 Deferred tax liability 52325 25 Accrued Pension Liability 107041 70 Accrued Employee Health Insurance 43,718 91 Total Current Assets 15,847,105.00 Total Current Liabilities 4,122,071.99 Long Term Liabilities: Bonds Payable 10% 20 year Long Term Fixed Assets: 4,000,000.00 250,000.00 1,250,000.00 2,382,653.84 47,500.00 328 282.00 Total Long Term Liabilities: Building Baking Equipment Patent Accumulated Depreciation Net Fixed assets 4,000,000.00 3,601,871.84 Total Liabilities: 8,122,071.99 500,000.00 Preferred Stock - (10,000 authorized 5,000 issued, 10%, 5100 par value) Common Stock - (2.000.000 shares authorized, 1,750,000 issued, S1 par) Retained Earnings 1,750,000 00 9,076,904.85 Total Equity 11,326,904 85 19,448,976.84 Total Assets 19,448,976.84 Total Liabilities & Equity na Prel Balance sheet 2017 Prel releaned Caming 2012 2011 Page Layout Formulas D ata Renew View Cut Arial Wrap Text Accounting e Copy E Merge & Center Si % Format Painter Clipboard Conditional Formatting as Alignment Number H10 -SUM(H5:H9) HOME Peyton Approved Statement of Retained Earnings For Year Ended 12/31/20XX Beginning Balance: plus Comprehensive Income 2,213,122.59 12,163,78226 Nimno 009 A less Dividends: Preferred Common Ending Balance (50,000.00) (5,250,000.00 9,076,904.85 ! ARN Ahonen HOME Peyton Approved Income Statement For Year Ended 12/31/20XX $ 33,881,157 15 124,795.80 34,005,952.95 Bakery Sales Merchandise Sales Total Revenues Cost of Goods Sold - Baked Cost of Goods Sold - Merchandise Total Cost of Goods Sold Gross Profit 10,954.907.36 88,994.79 11,043,902.15 22,962,050.80 Operating Expenses: Rent Expense Wages Expense Misc. Supplies Expense Repairs and Maintenance Business License Expense Misc. Expense Depreciation Expense Insurance Expense Advertising Expense Interest Expense Telephone Expense Pension Expense Retired Employees Health Ins Patent Amortization 1,556,731.95 2,604,526.23 263,224.56 20,353.05 211,757.65 91,171.08 649,444 31 112.937.69 160,413.49 489.778.96 50.821.34 107,041.70 43,718.91 2.500.00 6,364,420.92 Total Operating Expenses: 16,597,629.88 Earnings before Income Tax 4,168,847.62 Income Taxes Deferred Tax Expense Total Tax Expense 4,168,847.62 12.428,782.26 Net Income 265,000.00 Unrealized loss on securities held for sale 12. 163.782 26 Other Comprehensice Income Instructions final P rel Balanc callations Instructions Milestone Milestone my Version 4790,000 7.09 Fully diluted EPS Peyton plans to raise $1,000,000 milion of additional capital for the cofing year. They anticipate that it will enable them to earn an additional $600,000 after tax What would be the impact on earnings per share if the raise the $1,000,000 by: 10,000 share of 10% $100 par value convertible preferred stock, where share can be coverted into 10 shares of Peyton common stock? b) issuing $1,000,000 of 8% convertible bond, each $1,000 fond can be converted into? 5 shares of Peyton common stock? c) $500,000 of each of the above? Net Income Less: Preferred Dividends Earnings Available to Common Shareholders Common Shares Outstanding Basic EPS 12,428,782.26 50,000.00 12,378,782 26 1.750,000 7.07 If al preferred shares are converted: Net Income Additional Common Shares Common Shares Outstanding after conversion EPS if preferred shares converted Preferred shares are antidilutive 12,428.782.26 10,000.0 1760.000.0 7.03 If al bonds are converted: Net Income Less: Preferred Dividends Add back interest on bonds, net of income tax 'Earnings Available to Common Shareholders Additional Common Shares Common Shares Outstanding after conversion 12.428.782.26 50,000.00 320,000.00 12,638,782.26 40.000 1.790.000 Instructions. Milestone Milestone calculation Instructions final Type here to search O I e Font Alignment board 11 - HOME F Peyton Approved Earnings per Share For Year Ended 12/31/20XX Net Income Less: Preferred Dividends Earnings Available to Common Shareholders Common Shares Outstanding Basic EPS 12.428.782.26 (50,000.00) 12,378,782 26 1.750,000 7.07 If all preferred shares are converted: Net Income Additional Common Shares Common Shares Outstanding after conversion EPS if preferred shares converted Preferred shares are antidilutive 12,428,782 26 10.000.0 1,760,000 7.03 If all bonds are converted: Net Income Less: Preferred Dividends Add back interest on bonds, net of income tax Earnings Available to Common Shareholders Additional Common Shares Common Shares Outstanding after conversion Fully diluted EPS 12.428,782 26 150,000.00) 320,000.00 12.698.782 40.000 1.790,000 7.09 Peyton plans to raise $1.000.000 million of additional capital for the cofung year. They anticipate that it will enable them to earn an additional $600,000 after fax What would be the impact on earnings per share if the raise the $1,000,000 by: a) issuing 10.000 share of 10% $100 par value convertible e ferred stock where share can be coverted into 10 shares of Peston common stock? b une 51.000.000 of 8% convertible bond, each 1 000 fond can be converted into 5 shares of Peyton common stock? c) $500,000 of each of the above