Reference no: EM132815097
The balance sheet for Seuss Company at the end of the current fiscal year indicated the following:
Bonds payable, 10% (20-year term)$5,000,000
Preferred 10% stock, $100 par1,000,000
Common stock, $10 par2,000,000
Income before income tax was $1,500,000 and income taxes were $200,000 for the current year.
Cash dividends paid on common stock during the current year totaled $150,000. The common stock sells for $75 per share at the end of the year.
Required:
Problem 1: Determine each of the following
1. Times interest earned
2. Earnings per share on common stock
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