GiantCorp. owns common stock in TinyCorp. GiantCorp will prepare consolidated financial statements if: GiantCorp. owns > 25% of TinyCorp's shares. GiantCorp. owns > 50% of TinyCorp's shares. GiantCorp. owns 100% of TinyCorp's shares. GlantCorp will prepare consolidated financial statements regardless how many shares of TinyCorp it owns. u Knit Company had 4,000 common shares and 500 $8 par, 5% preferred shares on January 1. During the year, Knit had the following transactions. - Issued 1,000 shares of common stock on March 31 - Purchased 600 shares of treasury stock on June 30 - Sold 300 shares of treasury stock on October 31 What is Knit's weighted average common shares outstanding for the year? 4,500 4,608 5,000 5,058 TUI JUI Knight Corp. had 2,000 weighted average common shares outstanding for the year. For the same period, Knight earned net income of $8,000, paid $500 of dividends to preferred shares, and paid $800 of dividends to common shares. What is Knight's earnings per share for the year? $4.00 per share $3.75 per share $3.60 per share $3.35 per share Carne Inc. had an average stock price per share for the year of $42 and earnings per share of $7. Dividends paid per common share were $1. What Carne's price earnings ratio for the year? 0.17 5.86 6 7 Tower Corp. has the following information: 12/31/2020 12/31/2019 Cash Accounts Receivable Inventory $ 700 300 800 $ 1,160 420 750 Accounts Payable Unearned Revenue $ 680 620 $ 530 860 2020 Sales Revenues Cost of Goods Sold Depreciation Expense Insurance Expense Loss on Sale of Equipment Net Income $3,400 1,750 110 230 80 1,000 What is Tower's cash flow from operating activities for the year? $ 790 $ 830 $1,170 $1,210 ( 0 50) Gormely Inc. has the following information: 12/31/2020 12/31/2019 $420 Cash Accounts Receivable Supplies 510 $320 420 250 170 Accounts Payable Salary Payable $800 180 $940 150 2020 $1,800 360 820 Service Revenues Rent Expense Salary Expense Depreciation Expense Gain on Sale of Land Net Income 230 50 900 What is Gormely's cash flow from operating activities for the year? $ 600 $ 700 $ 960 $1,060