Question
The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2015 and 2016, while the income statement items
The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2015 and 2016, while the income statement items correspond to revenues or expenses during the year ending in either 2015 or 2016. All values are in thousands of dollars.
2015 | 2016 | |||||
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 assets | 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.)
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