Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed

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. 2018 2019 Revenue $5,700 $5,800 Cost of goods sold 1,600 1,700 Depreciation 430 450 Inventories 350 405 Administrative expenses 500 550 Interest expense 120 120 Federal and state taxes* 920 940 Accounts payable 260 335 Accounts receivable 450 490 Net fixed assetst 5,800 6,490 Long-term debt 2,000 2,320 Notes payable 820 490 Dividends paid 350 350 Cash and marketable securities 760 370 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 581,000 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

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

Handbook Of Key Global Financial Markets Institutions And Infrastructure

Authors: Gerard Caprio

1st Edition

0123978734, 9780123978738

More Books

Students also viewed these Finance questions