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Category > Business & Finance Posted 05 Jun 2017 My Price 11.00

1. Chuck McElravy owns Common

1. Chuck McElravy owns Common Grounds Coffee House, near the campus of Manatee College. The business has cash of $2,000 and furniture that cost $8,000. Debts include accounts payable of $1,000 and a $6,000 note payable. How much equity does McElravy have in the business? Using McElravy's figures, write the accounting equation of Common Grounds Coffee House. 

2. Michaels Corporation expects earnings before interest and taxes to be $40,000 for this period. Assuming an ordinary tax rate of 40 percent, compute the firm's earnings after taxes and earnings available for common stockholders (earnings after taxes and preferred stock dividends, if any) under the following conditions: a. The firm pays $10,000 in interest. b. The firm pays $10,000 in preferred stock dividends

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Status NEW Posted 05 Jun 2017 09:06 AM My Price 11.00

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