Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Good Corporation's annual report is as follows. (10 pts) March 31, 2014 March 31, 2015 Net Income $350,000 $423,500 Preferred Dividends 0 0 Total Stockholders'

Good Corporation's annual report is as follows. (10 pts) March 31, 2014 March 31, 2015 Net Income $350,000 $423,500 Preferred Dividends 0 0 Total Stockholders' Equity $4,200,000 $5,082,000 Stockholders' Equity attributable to Preferred Stock 0 0 Number of Common Shares Outstanding 275,464 192,168 If the current market price is $15 on March 31, 2015, find the price/earnings ratio on March 31, 2015.

On a separate sheet of paper:

Later,

1. Good Corp. had the following transactions in 2015, its first year of operations. (5 pts)

Issued 5,000 shares of common stock. Stock has par value of $0.01 per share and was issued at $30.00 per share.

Earned net income of $200,000.

Paid dividends of $5.00 per share.

At the end of 2015, how much is the total stockholders' equity?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Market Contact Audit

Authors: Gerardus Blokdyk

2nd Edition

0655179771, 978-0655179771

More Books

Students also viewed these Accounting questions