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please complete almost finished the first two pictures go together . The following information was taken from the records of Munez Motorsports, Inc. at November
please complete almost finished
the first two pictures go together .
The following information was taken from the records of Munez Motorsports, Inc. at November 30, 2024: Click the icon to view the data) Prepare a multi-step income statement for Munez Motorsports for the fiscal year ended November 30, 2024. Include earnings per share Complete the income statement in this step, and then identity and enter the applicable EPS amounts in the following step. (Round all earings por share amounts to the nearest cont, $XXX) Munoz Motorsports, Inc. Income Statement Year Ended November 30, 2024 Net Sales Revenue $ 904,000 Cost of Goods Sold 450,000 Gross Profit 454,000 Operating Expenses Selling Expenses $ 100,000 Administrative Expenses 145,000 245,000 Operating Income/Income Before Taxes 209,000 Income Tax Expense 70,000 Income From Continuing Operation 139,000 Discontinued Operations (less applicable tax) 5.100 Net Income $ 144,100 Net Income Data table 1 $ s 300,000 Selling Expenses Administrative Expenses Income From Discontinued Operations Cost of Goods Sold Treasury Stock Common (3,500 shares) Net Sales Revenue 100,000 145,000 8,500 450,000 38,500 904,000 Common Stock 58 Par Value 37.500 shares authorized and issued Preferred Stock, $6 No-Par Value 9,000 shares issued Income Tax Expense: Continuing Operations Income Tax Expense: Income from Discontinued Operations 540,000 70,000 3,400 Print Done 1 More info Feb. 6 Declared a 5% stock dividend on common stock. The market value of Truman's stock was $20 per share. Feb. 15 Distributed the stock dividend. Jul. 29 Purchased 1,700 shares of treasury stock at $20 per share. Nov. 27 Declared a $0,30 per share cash dividend on the common stock outstanding, Print Done Gullo Company reported these figures for 2024 and 2023 Click the icon to view the figures.) Read the requirements nearest cent Requirement 1. Compute Guillo Company's earnings per share for 2024. Assume the company paid the minimum preferred dividend during 2024. Round to the Select the formula, then enter the amounts to calculate the company's earnings per share for 2024. Abbreviations used Ave, average, 08 - outstanding. SE stockholders' equity, shrs shares) Esrnings per share Requirements 1. Compute Gullo Company's earnings per share for 2024. Assume the company paid the minimum preferred dividend during 2024. Round to the nearest cent. 2. Compute Gulo Company's price learnings ratio for 2024. Assume the company's market price per share of common stock is $7. Round to two decimals 3. Compute Guillo Company's rate of return on common stockholders' equity for 2024. Assume the company paid the minimum proferred dividend during 2024. Round to the nearest whole percent Print Done Data table 2024 2023 Income Statement-partial: Net Income $ 13,200 $ 16,000 Dec. 31, 2024 Dec. 31, 2023 $ 265,000 $ 260,000 $ 45,000 $ 45,000 Balance Sheet-partial: Total Assets Paid-In Capital: Preferred Stock-6%, $5 Par Value: 65,000 shares authorized, 9,000 shares issued and outstanding Common Stock-$1 Par Value: 50,000 shares authorized; 30,000 shares issued and outstanding Paid-In Capital in Excess of Par-Common Retained Earnings Total Stockholders' Equity 30,000 30,000 25,000 55,500 155,500 $ 25,000 45,000 145,000 Print Done Step by Step Solution
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