Reference no: EM132529847

Problem 1: The Common Stock account for Baltimore Corporation on January 1, 2018 was $50,000. On July 1, 2018 Baltimore issued an additional 5,500 shares of common stock. The Common Stock is $5 par. There was neither Preferred Stock nor any Treasury Stock. Paid in Capital Excess to par Common Stock was $20,000 on January 1 and $40,000 on July 2 and net income was $130,000. Use this information to determine for December 31, 2018 the amount of Earnings per Share (rounded to the nearest cent).

Problem 2: For the FY 2018, Dorchester Company's balance sheet included the following current items: cash $45,000, accounts receivable $137,000, inventories $121,000, prepaid expenses $20,000, accounts payable $86,000, and accrued expenses $64,000. Use this information to determine the Current Ratio. (Round & enter your answers to one decimal place.)

Problem 3: For the FY 2018, Frederick Company had net sales of $800,000 and net income of $70,000, paid income taxes of $17,500, and had before tax interest expense of $20,000. Use this information to determine the Times Interest Earned Ratio. (Round your answers to one decimal place)