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Effect of Financing on Earnings Per Share BSF Co., which produces and sells skiing equipment, is financed as follows: Bonds payable, 10% (issued at face

Effect of Financing on Earnings Per Share

BSF Co., which produces and sells skiing equipment, is financed as follows:

Bonds payable, 10% (issued at face amount) $1,850,000
Preferred 2% stock, $20 par 1,850,000
Common stock, $25 par 1,850,000

Income tax is estimated at 60% of income.

Round your answers to the nearest cent.

a. Determine the earnings per share of common stock, assuming that the income before bond interest and income tax is $721,500. $fill in the blank 1 per share

b. Determine the earnings per share of common stock, assuming that the income before bond interest and income tax is $906,500. $fill in the blank 2 per share

c. Determine the earnings per share of common stock, assuming that the income before bond interest and income tax is $1,091,500. $fill in the blank 3 per share

By the Month Inc. sold 19,500 annual magazine subscriptions for $42 during December 20Y4. These new subscribers will receive monthly issues, beginning in January 20Y5. By the Month Inc. issued a $154,800, 180day, 5% note payable on December 1, 20Y4. On March 31, 20Y5, By the Month Inc. had accounts payable of $22,000 and accrued wages payable of $6,700.

Prepare the Current Liabilities section of the balance sheet for By the Month Inc. on March 31, 20Y5. Do not round intermediate calculations and round your final answers to the nearest dollar. (Assume 360 days in a year.)

By the Month Inc. Current Liabilities Section of the Balance Sheet March 31, 20Y5
Current liabilities:

Accounts payableFederal income taxes expenseFederal income taxes payableSalesSubscription revenue receivableAccounts payable

$Accounts payable

Accrued wages payableFederal income taxes expenseFederal income taxes payableSalesSubscription revenue receivableAccrued wages payable

Accrued wages payable

Accrued interest payableFederal income taxes expenseFederal income taxes payableSalesSubscription revenue receivableAccrued interest payable

Accrued interest payable

Federal income taxes expenseFederal income taxes payableNotes payableSalesSubscription revenue receivableNotes payable

Notes payable

Accounts payableAdvances on magazine subscriptionsFederal income taxes expenseSalesSubscription revenue receivableAdvances on magazine subscriptions

Advances on magazine subscriptions
Total current liabilities $fill in the blank 11

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