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On January 1, 2024, the general ledger of Grand Finale Fireworks includes the following account balances: During January 2024 , the following transactions occur: January 2. Issue an additional 2,100 shares of \$1 par value cammon stock for \$42 000. Janvary 9. Provide services to customers on account, 116,300 . January 10 Purchase additional supplies on account, \$5, 860. January 12 Purchase 1,200 shares of treasury stock for $22 per share. January is pay cash on accounts payable, $17,409. January 21 Provide services to customers for cash, \$50, 000. January 22 Receive cash on accounts receivable, $17,500. January 29 Declare a cash dividend of 50.40 pen share to ali shares outstanding on panuary 29. The dividend is payabie on February 15. (Hintz Grand Finale fircirorks had 19,000 shares outstanding on pecuscy 1, 2024, and dividends are not paid on treasury stock.) January 30 Resell 700 shares of treasury stock for $24 pen share. January 31 pay cash for salaries during January, $42,900. 7. Analyze the following for Grand Finale Fireworks Q-1. Calculate the return on equity for the month of January, a-2. If the average retum on equity for the industry for January is 2.4%, is the company more or less profitable than other companies in the same industry? b. How many shares of common stock are outstanding as of January 31,2024 ? c-1. Calculate earnings per share for the month of January. IHint To calculate overage shares or common stock outstandicig take the beginning shares outstanding plus the ending shares outstanding and divide the total by 2.) worse than last year's average? January 29 Declare a cash dividend of $0.40 per share to all shares outstanding on ganuiry 29 . The dividend 15 payabie on February 15. (Hint: Grand Finale Fireworks had 19,000 shares outstanding on January 1, 2024, and dividends are not paid on treasury stock.) January 30 Resell 700 shares of treasury stock for $24 per share. January 31 pay cash for salaries during January, $42,900. 7. Analyze the following for Grand Finale Fireworks: a-1. Calculate the return on equity for the month of January. a-2. If the average return on equity for the industry for January is 2.4%, is the company more or less profitable than other companies in the same industry? b. How many shares of common stock are outstanding as of January 31,2024 ? c-1. Calculate earnings per share for the month of January (Hint. To calculate average shares of common stock outstanding take the beginning shares outstanding plus the ending shares outstanding and divide the total by 2 ) c-2. If earnings per share was $240 last year (i.e, an average of $240 per month), is eamings per share for January 2024 better or worse than last year's average? Complete this question by entering your answers in the tabs below. If the average return on equity for the industry for January is 2.4%, is the company more or less profitable than other companies in the same industry? Whe irerage retim on equaty foc the industry for danuary is 2.4%, is the company more or January 29 Declare a cash dividend of $0.40 per share to all shares outstanding on January 29 . The dividend is payable on February 15. (Hint: Grand Finale Fireworks had 19,000 shares outstanding on January 1, 2024, and dividends are not paid on treasury stock.) January 30 Resel1 700 shares of treasury stock for $24 per share. January 31 Pay cash for salaries during January, $42,900. 7. Analyze the following for Grand Finale Fireworks: a-1. Calculate the return on equity for the month of January a.2. If the average return on equity for the industry for January is 2.4%, is the company more or less profitable than other companies in the same industry? b. How many shares of common stock are outstanding as of January 31, 2024? c-1. Calculate earnings per share for the month of January. (Hint: To calculate average shares of common stock outstanding take the beginning shares outstanding plus the ending shares outstanding and divide the total by 2 ) c-2. If earnings per share was \$2.40 last year (i.e, an average of \$2.40 per month), is eamings per share for January 2024 better or worse than last year's average? Complete this question by entering your answers in the tabs below. How many shares of common stock are outstanding as of January 31,2024 ? Nurcher of comunon ntock butstanding January 22 Receive cash on accounts receivable, $17,560. January 29 Declare a cash dividend of $0.40 per share to all shares outstanding on January 29 . The dividend is payable on February 15. (Hint; Grand Finale Fireworks had 19,090 shares outstanding on January 1, 2024, and dividends are not paid on treasury stock.) January 36 Resell 700 shares of treasury stock for $24 per share. January 31 Pay cash for salaries during January, $42,900. 7. Analyze the following for Grand Finale Fireworks: a-1. Calculate the return on equity for the month of January a-2. If the average return on equity for the industry for January is 2.4%, is the company more or less profitable than other companies in the same industry? b. How many shares of common stock are outstanding as of January 31, 2024? c-1. Calculate earnings per share for the month of January. (Hint to calculate average shares of common stock outstanding take the beginning shares outstanding plus the ending shares outstanding and divide the total by 2 ) c-2. If earnings per share was \$2.40 last year (i.e., an average of $2.40 per month), is earnings per share for January 2024 better or worse than last year's average? Complete this question by entering your answers in the tabs below. Calculate eamings per share for the month of January. (Hint: To calculate average shares of common stock outstanding take the beginning shares outstanding plus the ending shares outstanding and divide the total by 2.) On January 1, 2024, the general ledger of Grand Finale Fireworks includes the following account balances: During January 2024 , the following transactions occur: January 2. Issue an additional 2,100 shares of \$1 par value cammon stock for \$42 000. Janvary 9. Provide services to customers on account, 116,300 . January 10 Purchase additional supplies on account, \$5, 860. January 12 Purchase 1,200 shares of treasury stock for $22 per share. January is pay cash on accounts payable, $17,409. January 21 Provide services to customers for cash, \$50, 000. January 22 Receive cash on accounts receivable, $17,500. January 29 Declare a cash dividend of 50.40 pen share to ali shares outstanding on panuary 29. The dividend is payabie on February 15. (Hintz Grand Finale fircirorks had 19,000 shares outstanding on pecuscy 1, 2024, and dividends are not paid on treasury stock.) January 30 Resell 700 shares of treasury stock for $24 pen share. January 31 pay cash for salaries during January, $42,900. 7. Analyze the following for Grand Finale Fireworks Q-1. Calculate the return on equity for the month of January, a-2. If the average retum on equity for the industry for January is 2.4%, is the company more or less profitable than other companies in the same industry? b. How many shares of common stock are outstanding as of January 31,2024 ? c-1. Calculate earnings per share for the month of January. IHint To calculate overage shares or common stock outstandicig take the beginning shares outstanding plus the ending shares outstanding and divide the total by 2.) worse than last year's average? January 29 Declare a cash dividend of $0.40 per share to all shares outstanding on ganuiry 29 . The dividend 15 payabie on February 15. (Hint: Grand Finale Fireworks had 19,000 shares outstanding on January 1, 2024, and dividends are not paid on treasury stock.) January 30 Resell 700 shares of treasury stock for $24 per share. January 31 pay cash for salaries during January, $42,900. 7. Analyze the following for Grand Finale Fireworks: a-1. Calculate the return on equity for the month of January. a-2. If the average return on equity for the industry for January is 2.4%, is the company more or less profitable than other companies in the same industry? b. How many shares of common stock are outstanding as of January 31,2024 ? c-1. Calculate earnings per share for the month of January (Hint. To calculate average shares of common stock outstanding take the beginning shares outstanding plus the ending shares outstanding and divide the total by 2 ) c-2. If earnings per share was $240 last year (i.e, an average of $240 per month), is eamings per share for January 2024 better or worse than last year's average? Complete this question by entering your answers in the tabs below. If the average return on equity for the industry for January is 2.4%, is the company more or less profitable than other companies in the same industry? Whe irerage retim on equaty foc the industry for danuary is 2.4%, is the company more or January 29 Declare a cash dividend of $0.40 per share to all shares outstanding on January 29 . The dividend is payable on February 15. (Hint: Grand Finale Fireworks had 19,000 shares outstanding on January 1, 2024, and dividends are not paid on treasury stock.) January 30 Resel1 700 shares of treasury stock for $24 per share. January 31 Pay cash for salaries during January, $42,900. 7. Analyze the following for Grand Finale Fireworks: a-1. Calculate the return on equity for the month of January a.2. If the average return on equity for the industry for January is 2.4%, is the company more or less profitable than other companies in the same industry? b. How many shares of common stock are outstanding as of January 31, 2024? c-1. Calculate earnings per share for the month of January. (Hint: To calculate average shares of common stock outstanding take the beginning shares outstanding plus the ending shares outstanding and divide the total by 2 ) c-2. If earnings per share was \$2.40 last year (i.e, an average of \$2.40 per month), is eamings per share for January 2024 better or worse than last year's average? Complete this question by entering your answers in the tabs below. How many shares of common stock are outstanding as of January 31,2024 ? Nurcher of comunon ntock butstanding January 22 Receive cash on accounts receivable, $17,560. January 29 Declare a cash dividend of $0.40 per share to all shares outstanding on January 29 . The dividend is payable on February 15. (Hint; Grand Finale Fireworks had 19,090 shares outstanding on January 1, 2024, and dividends are not paid on treasury stock.) January 36 Resell 700 shares of treasury stock for $24 per share. January 31 Pay cash for salaries during January, $42,900. 7. Analyze the following for Grand Finale Fireworks: a-1. Calculate the return on equity for the month of January a-2. If the average return on equity for the industry for January is 2.4%, is the company more or less profitable than other companies in the same industry? b. How many shares of common stock are outstanding as of January 31, 2024? c-1. Calculate earnings per share for the month of January. (Hint to calculate average shares of common stock outstanding take the beginning shares outstanding plus the ending shares outstanding and divide the total by 2 ) c-2. If earnings per share was \$2.40 last year (i.e., an average of $2.40 per month), is earnings per share for January 2024 better or worse than last year's average? Complete this question by entering your answers in the tabs below. Calculate eamings per share for the month of January. (Hint: To calculate average shares of common stock outstanding take the beginning shares outstanding plus the ending shares outstanding and divide the total by 2.)
