The company had 40000 shares of common stock outstanding

Assignment Help Accounting Basics

Reference no: EM13607078

.The Frame It Company reporting the following items on its income statement in 2009:

A. Net operating revenues, $814,250
B. Cost of goods sold, $305,908
C. Selling and administrative expenses $198,450
D. Research and development expenses, $99,993
E. Net interest expense, $7,887
F. Provision for income taxes, $78,909
G. Current year loss from discontinued operations of $18,000, net of tax benefit of $6,858
H. Loss from sale of discontinued operations of $52,000, net of tax benefit of $11,525
I. Preferred stock dividends, $24,000

The company had 40,000 shares of common stock outstanding throughout the fiscal year. Compute each of the following: (Show your computations to earn credit in each.)

a. Operating income
b. Income (loss) from continuing operations, before taxes
c. Income (loss) before discontinued operations
d. Net income (loss)
e. Net income (loss) available for common shareholders
f. Earnings per share from continuing operations
g. Earnings per share from discontinued operations
h. Earnings per share from net income (loss)

Reference no: EM13607078

Questions Cloud

After four years mrtgage rates drop to 8 percent for : you have just purchased and have obtained a 30-year 200000 mortgage with an interest rate of 10 percent. requireda.

Compare the relative properties and cost of three ceramic : some of our modern kitcgen cookware is made of ceramic materials. a compare the relative properties and cost of three

The length of time in seconds that a user views a page on a : the length of time in seconds that a user views a page on a web site before moving to another page is a lognormal

The downtown hobby shop expects net daily sales of 1200 : the downtown hobby shop expects net daily sales of 1200 with the costs of goods sold at 750 and total expenses of 250.

The company had 40000 shares of common stock outstanding : .the frame it company reporting the following items on its income statement in 2009a. net operating revenues 814250b.

The following materials standards have been established : the following materials standards have been established for a particular product the following data pertain to

A metal ball with a mass of 401middot10-6 kg and a charge : a metal ball with a mass of 4.01middot10-6 kg and a charge of 4.99 mc has a kinetic energy of 7.95middot108 j. it is

The length of time in seconds that a user views a page on a : the length of time in seconds that a user views a page on a web site before moving to another page is a lognormal

Springfield express has an opportunity to obtain a new : springfield express has an opportunity to obtain a new route that would be traveled 20 times per month. the company

User Account

All Pages