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Shannon Corporation had profit of $250,000 and paid dividends to common shareholders of $50,000 in 2021. The weighted average number of shares issued in 2021
Shannon Corporation had profit of $250,000 and paid dividends to common shareholders of $50,000 in 2021. The weighted average number of shares issued in 2021 was 50,000 shares. Shannon Corporation's common shares are selling for $40 per share on the Toronto Stock Exchange. Shannon Corporation reported the following data for 2021 and 2020:
2021 | 2020 | |
Cash | $131,000 | $126,000 |
Accounts Receivable, Net | 84,000 | 59,000 |
Merchandise Inventory | 43,000 | 42,000 |
Property, Plant, and Equipment, Net | 130,000 | 96,000 |
Net Sales Revenue | $460,000 |
Cost of Goods Sold | (335,000) |
Gross Profit | $125,000 |
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