Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Part II: Open Ended Accounting Problems Instructions: Determine a final numerical answer for each question. You will record your ANSWERS ONLY on THPS-I Answer Submission
Part II: Open Ended Accounting Problems Instructions: Determine a final numerical answer for each question. You will record your ANSWERS ONLY on THPS-I Answer Submission Form on iCollege. For all questions (unless otherwise specifically instructed), round (if necessary) all answers to whole dollar amounts (i.e., zero decimal places), but you will NOT record the dollar sign or any commas on iCollege. For example, round $24,302.84 to $24,303 and record this value on iCollege at 24303. Financial statement data for Plum Crazy Boutique (a high-end clothing retail company) are given below. All figures are in dollars. Use this data to construct an Income Statement for the year ending December 31, 2022 and use your constructed statement to answer the following 4 questions. 16. What was gress profit from Plum Crazy Boutique's income statement for the year ending December 31 , 2022 ? 17. What was operating profit (i.e, EBIT) from Plum Crazy Boutique's income statement for the year ending December 31, 2022? 18. What was profit before taxes (i.e., EBT) from Plum Crazy Boutique's income statement for the year ending December 31,2022 ? 19. What was net income from Plum Crazy Boutique's income statement for the year ending December 31,2022 ? 20. Given the following information for Langs, Ine., calculate per share dividend dollar amount (that is, the dividends per share), rounded to the nearest cent (i.e., $5.21843$5.22 ) that the company paid out in 2021 : - Retained eamings reported on December 31,2021 balance sheet: $4,936,800 - Retained camings reported on December 31, 2022 balance shect: $5,026,800 - Net Income reported on December 31, 2021 income statement: $658,700 - Net Income reported on December 31, 2022 income statement: $749,700
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started