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This is for managerial accounting class. Thank you so much for the help. Please show steps so I can follow along. 19) The MGk Corporation
This is for managerial accounting class. Thank you so much for the help. Please show steps so I can follow along.
19) The MGk Corporation reported the following income statement and balance sheet amounts and aditiona information for the end of the current year. Ena of curet yared fmon End of prior End of current year year $1,220,000 $725,000 $495,000 $280,000 $42,00 $173,00 Net sales revenue (all credit) Cost of goods sold ross profit Selling/general expenses Interest expense Net Income Current assets $113,000 $512,00 $625,00 $57,00 $82,00 $440,000 S522,000 $52.00 ong-term assets Total assets Current liabilities Long-term liabilities Common stockholders' equity Total liabilities and stockholders' equity $275,000$245,000 $293,00 S625,00 $225,000 $522,000 Inventory and prepaid expenses account for $30,000 of the current year's current assets Average inventory for the current year is $36,250. Average net accounts receivable for the current year is $45,000. There are 35,000 shares of common stock outstanding. Total dividends paid during the current year were $17,000 The market price per share of common stock is $20 What is the earnings per share for the current year? A)$4.05 B)$11.86 C)$5.12 D) $4.94 9) Step by Step Solution
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