Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Fitness Studio, Inc.'s 2018 income statement lists the following income and expenses: EBIT = $781,000, interest expense = $250,000, and taxes = $185,850. The

  1. The Fitness Studio, Inc.'s 2018 income statement lists the following income and expenses: EBIT = $781,000, interest expense = $250,000, and taxes = $185,850. The firm has no preferred stock outstanding and 100,000 shares of common stock outstanding.

Calculate the 2018 earnings per share.(Round your answer to 2 decimal places.)

Earnings per share?

2 . You are evaluating the balance sheet for Goodman's Bees Corporation. From the balance sheet you find the following balances: cash and marketable securities = $610,000, accounts receivable = $1,700,000, inventory = $1,400,000, accrued wages and taxes = $640,000, accounts payable = $940,000, and notes payable = $740,000.

Calculate Goodman Bees' net working capital.(Enter your answer in dollars not in millions. Round your answer to the nearest dollar amount.)

Net working capital?

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

Step: 3

blur-text-image

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

Financial Accounting Plus

Authors: Robert Libby, Patricia Libby, Daniel Short

7th Edition

0077480015, 9780077480011

More Books

Students also viewed these Accounting questions

Question

8. What are the costs of collecting the information?

Answered: 1 week ago