Question
Compute the earnings per share of common stock for 2018 and 2017. Begin by selecting the formula to compute the earnings per share of common
Compute the earnings per share of common stock for 2018 and 2017. Begin by selecting the formula to compute the earnings per share of common stock.
Earnings per share | = | (Net income - Preferred dividends) / Weighted average number of common shares outstanding |
Now, compute the earnings per share for 2018 and 2017.
(Round your answers to the nearest cent, $X.XX.)
2018: | |
2017: |
Banfield, Inc. | |||||
Comparative Balance Sheet | |||||
December 31, 2018 and 2017 | |||||
2018 | 2017 | 2016* | |||
Assets | |||||
Current Assets: | |||||
Cash | $90,000 | $89,000 | |||
Accounts Receivables, Net | 111,000 | 114,000 | $105,000 | ||
Merchandise Inventory | 149,000 | 162,000 | 210,000 | ||
Prepaid Expenses | 16,000 | 8,000 | |||
Total Current Assets | 366,000 | 373,000 | |||
Property, Plant, and Equipment, Net | 220,000 | 173,000 | |||
Total Assets | $586,000 | $546,000 | $600,000 | ||
Liabilities | |||||
Total Current Liabilities | $227,000 | $246,000 | |||
Long-term Liabilities | 120,000 | 97,000 | |||
Total Liabilities | 347,000 | 343,000 | |||
Stockholders' Equity | |||||
Preferred Stock, 5% | 110,000 | 110,000 | |||
Common Stockholders' Equity, no par | 129,000 | 93,000 | 88,000 | ||
Total Liabilities and Stockholders' Equity | $586,000 | $546,000 | |||
* Selected 2016 amounts |
Banfield, Inc. | ||||
Comparative Income Statement | ||||
Years Ended December 31, 2018, and 2017 | ||||
2018 | 2017 | |||
Net Sales Revenue | $464,000 | $428,000 | ||
Cost of Goods Sold | 241,000 | 218,000 | ||
Gross Profit | 223,000 | 210,000 | ||
Operating Expenses | 138,000 | 136,000 | ||
Income From Operations | 85,000 | 74,000 | ||
Interest Expense | 14,000 | 15,000 | ||
Income Before Income Tax | 71,000 | 59,000 | ||
Income Tax Expense | 20,000 | 26,000 | ||
Net Income | $51,000 | $33,000 |
Step by Step Solution
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