Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Problem 3-34 Earnings per Share (L01) The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and

image text in transcribed
Problem 3-34 Earnings per Share (L01) The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes Accounts payable Accounts receivable Net fixed assets Long-term debt Notes payable Dividends paid Cash and marketable securities 2018 $4,000 1.400 510 260 450 150 470 300 410 4,800 1,900 810 470 770 2019 $4,100 1,500 530 290 500 150 490 360 470 5,470 2,310 470 470 350 Taxes are paid in their entirety in the year that the tax obligation is incurred. * Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. Suppose that Fincorp has 562,000 shares outstanding. What were earnings per share? (Round your answers to 2 decimal places.) 2018 2019 Earnings per share

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_2

Step: 3

blur-text-image_3

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

Funds Private Equity Hedge And All Core Structures

Authors: Matthew Hudson

1st Edition

1118790405, 978-1118790403

More Books

Students also viewed these Finance questions

Question

5. Understand how cultural values influence conflict behavior.

Answered: 1 week ago

Question

e. What do you know about your ethnic background?

Answered: 1 week ago