L$61$ P$3-5$ Calculation of EPS and retained earnings Philagem, Inc, ended $2012$ with a net profit before taxes of $$218,000.$ The company is subject to a $40\%$ tax rate and must pay $$32,000$ in preferred stock dividends before distributing any earnings on the $85,000$ shares of common stock currently outstanding.

a$.$ Calculate Philagem's $2012$ earnings per share $($EPS$).$

b$.$ If the firm paid common stock dividends of $50\mathrm{.}80$ per share, how many dollars would go to retained earnings?

LG $1$ P$3-6$ Balance sheet preparation Use the appropriate items from the following list to prepare in good form Owen Davis Company's balance sheet at December $31,2012.$

$\backslash$table$[[$liem$,\backslash$table$[[$Value $(5000)$ at$],[$December $31,2012]],$Item,$\backslash$table$[[$Value $($$$000)$ at$],[$December $31,2012]]],[$Accounts payable,$5220,$Inventaries,$5375],[$Accounts receivable,$450,$tand$,100],[$Accruals$,55,$L$.$ong$-$terra debes,$420],[$Accumulated depreciation,$265,$Machinery,$420],[$Buildings$,225,$Marketable securitics$,75],[$Cich$,215,$Notes payable,$475],[$Common stock $($at par$),90,$Paid$-$in capital in excess,$],[$Cust of goods sold,$2,500,$of par,$360],[$Depreciation expense,$45,$Preferred stock,$100],[$Equipment$,140,$Retaised caraings,$210],[$Furniture and tixaures,$170,$Sales revenae,$3,600],[$General expense,$320,$Vehicles,$25]]$