Question
Gala, Inc. has no preferred stock outstanding. The company had 40,000 shares of common stock outstanding on January 1, 2016 and issued 12,000 additional shares
Gala, Inc. has no preferred stock outstanding. The company had 40,000 shares of common stock outstanding on January 1, 2016 and issued 12,000 additional shares on May 1. If Galas net income was $200,000, the company should report earnings per share of (to the nearest cent):
| A. | $4.44 | |
| B. | $4.17 | |
| C. | $5.24 | |
| D. | $3.85 |
G. C. Murpheys 2016 financial statements show average shareholders equity of $20,412 million, net income of $5,040 million, and average total assets of $86,700 million. How much is G. C. Murpheys return on assets for the year?
| A. | 5.81% | |
| B. | 4.77% | |
| C. | 24.69% | |
| D. | 11.42% |
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
7th Edition
978-0470477151, 978-0-470-5562, 470556242, 0-470-55624-2, 9780470556245, 978-0470507018
