Reference no: EM133037594

Question 1 - The Common Stock account for Baltimore Corporation on January 1, 2020 was $55,000. On July 1, 2020 Baltimore issued an additional 5,000 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 $105,000. Use this information to determine for December 31, 2020 the amount of Earnings per Share (rounded to the nearest cent).

Question 2 - For the FY 2018, Frederick Company had net sales of $850,000 and net income of $85,000, paid income taxes of $30,000, and had before tax interest expense of $15,000. Use this information to determine the Times Interest Earned Ratio. Round your answers to one decimal place.