Reference no: EM13328500

Question.1 Crow, Inc., had net income of $516,050 for its fiscal year ended September 30, 2014. During the year, the company had outstanding 24,000 shares of 8%, $50 par value preferred stock, and 135,500 shares of common stock.

Required:

Calculate the basic earnings per share of common stock for the 2014 fiscal year.

Question.2 Wood s Cabinets, Inc., had net income of $424,800 for its fiscal year ended October 31, 2014. During the year, the company had outstanding 53,000 shares of 9%, $60 par value preferred stock, and 36,960 shares of common stock.

Required:

Calculate the Basic Earnings per share of common stock for the 2014 fiscal year.

Question.3 Blue Glass, Inc. had cash dividends of $3.96 per share of common stock for calendar 2013. In 2014, the stock was split 3-for-1, and in 2015 a 10% stock dividend was issued.

Required:

Calculate the Dividends per share to be reported in the firm's annual report for 2014, and 2015.

Question.4 Silver Co. had cash dividends reported for 2013 of $3.64 per share of common stock. During 2014, the firm had a 4% common stock dividend.

Required:

Calculate the 2013 earnings per share to be reported in the annual report for 2014.

Question.5 Use gross profit ratio to calculate inventory loss On April 8, 2013, a flood destroyed the warehouse of Stuco Distributing Co. From the waterlogged records of the company, management was able to determine that the firm s gross profit ratio had averaged 40% for the past several years and that the inventory at the beginning of the year was $314,200. It also was determined that during the year until the date of the flood, sales had totaled $638,400 and purchases totaled $355,140.

Required:

Calculate the amount of inventory loss from the flood.