Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 19 Aug 2017 My Price 11.00

Garcon Inc

Six measures of solvency or profitability

 

The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the following:

 

 

 

Bonds payable, 8% (issued in 2006, due in 2026)

$5,000,000

Preferred $4 stock, $50 par

2,500,000

Common stock, $10 par

5,000,000

Income before income tax was $3,000,000, and income taxes were $1,200,000 for the cur- rent year. Cash dividends paid on common stock during the current year totaled $1,200,000. The common stock was selling for $32 per share at the end of the year. Determine each of the following: (a) number of times bond interest charges are earned, (b) number of times preferred dividends are earned, (c) earnings per share on common stock, (d) price-earnings ratio, (e) dividends per share of common stock, and (f) dividend yield. Round to one decimal place, except earnings per share, which should be rounded to two decimal   places

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Maurice Tutor
(5)
Status NEW Posted 19 Aug 2017 11:08 PM My Price 11.00

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