Reference no: EM132985616
The following information pertains to Diane Company. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Use this information to answer the question that follow.
Assets
Cash and short-term investments$30,000
Accounts receivable (net)20,000
Merchandise inventory15,000
Property, plant, and equipment185,000
Total assets$250,000
Liabilities and Stockholders' Equity
Current liabilities$45,000
Long-term liabilities70,000
Stockholders' equity-common135,000
Total liabilities and stockholders' equity$250,000
Income Statement
Sales$85,000
Cost of merchandise sold45,000
Gross profit$40,000
Operating expenses(15,000)Interest expense(5,000)Net income$20,000
Number of shares of common stock outstanding 6,000
Market price per share of common stock $20
Total dividends paid $9,000
Net cash flows from operating activities $30,000
Problem 1: Using the data provided for Diane Company, what are the dividends per common share?
a. $3.00
b. $20.00
c. $1.50
d. $0.67
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