Question
The 2020 and 2021 balance sheets for Pharoah Manufacturing Company appear below along with selected financial information. Pharoah declared no dividends during either year,and had
The 2020 and 2021 balance sheets for Pharoah Manufacturing Company appear below along with selected financial information. Pharoah declared no dividends during either year,and had 1,000 shares of stock outstanding throughout each year.
2021 | 2020 | |||
---|---|---|---|---|
Current Assets | ||||
Cash | $22,000 | $20,979 | ||
Accounts receivable, net | 26,000 | 25,101 | ||
Inventory | 35,000 | 34,000 | ||
Total current assets | 83,000 | 80,080 | ||
Plant & equipment, net | 66,000 | 45,920 | ||
Total assets | $149,000 | $126,000 | ||
Current liabilities | $26,000 | $36,000 | ||
Noncurrent liabilities | 66,000 | 46,000 | ||
Total Liabilities | 92,000 | 82,000 | ||
Stockholders equity | ||||
Common stock | 8,000 | 8,000 | ||
Additional paid-In capital | 10,000 | 10,000 | ||
Retained earnings | 39,000 | 26,000 | ||
Total stockholders equity | 57,000 | 44,000 | ||
Total liabilities and stockholders equity | $149,000 | $126,000 |
Calculate earnings per share for 2021.
Earnings per share | $enter Earnings per share in dollars |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started