OfficeMax had a net income of $667,000 for a recent year, while Staples had a net income
Question:
OfficeMax had a net income of $667,000 for a recent year, while Staples had a net income of $738,671,000. OfficeMax had preferred stock of $36,479,000 with preferred dividends of $2,818,000. Staples had no preferred stock. The outstanding common shares for each company were as follows:
Average Number of
Common Shares Outstanding
OfficeMax .........77,483,000
Staples ..........721,838,000
a. Determine the earnings per share for each company. Round to the nearest cent.
b. Evaluate the relative profitability of the two companies.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 52% (19 reviews)
a OfficeMax Earnings per Share Earnings per Share Earnings per Share 003 ...View the full answer
Answered By
Simon kingori
I am a tier-one market researcher and content developer who has been in this field for the last six years. I’ve run the freelancing gamut; from market research, data mining and SEO/SMM to copywriting, Content Development, you name it, I’ve done it. I’m extremely motivated, organized and disciplined – you have to be to work from home. My experience in Freelancing is invaluable- but what makes me a cut above the rest is my passion to deliver quality results to all my clients- it’s important to note, I've never had a dissatisfied client. Backed by a Masters degree in Computer Science from MOI university, I have the required skill set and burning passion and desire to deliver the best results for my clients. This is the reason why I am a cut above the rest. Having taken a Bsc. in computer science and statistics, I deal with all round fields in the IT category. It is a field i enjoy working in as it is dynamic and new things present themselves every day for research and exploration.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
The just completed year, Hanna Company had a net income of $35,000. Balances in the companys current asset and current liability accounts at the beginning and end of the year were: The Deferred...
-
Wachowski Corporation had a net income of $33,000 during 2010. During the year, the company had depreciation expense of $14,000. Accounts receivable increased by $11,000, and accounts payable...
-
During 2010, Minh Corporation had a net income of $144,000. Included on its income statement were depreciation expense of $16,000 and amortization expenses of $1,800. During the year, Accounts...
-
C) Use the appropriate Maxwell relation and determine whether the specific heat capacity at constant pressure (Cp) is a function of pressure at onstant temperature for: i) An ideal gas ii) [6 marks]...
-
Mossfort, Inc., has a division in Canada that makes long-lasting exterior wood stain. Mossfort has another U.S. division, the Retail Division, that operates a chain of home improvement stores. The...
-
Heide boards a spaceship and travels away from Earth at a constant velocity 0.45c toward Betelgeuse (a red giant star in the constellation Orion). One year later on Earth clocks, Heides twin, Hans,...
-
A 6-cylinder, 4-stroke, single acting petrol engine develops \(50 \mathrm{~kW}\) brake power at \(4200 \mathrm{rpm}\) and brake thermal efficiency is \(22 \%\). The temperature and pressure at the...
-
Karen, in forming a new corporation, transfers land to the corporation in exchange for 100 percent of the stock of the corporation. Karens basis in the land is $275,000, and the corporation assumes a...
-
5. Chicken Coop Corporation's (a real estate company) stock is owned as follows: 10 percent by Paul Jenner, 10 percent by Paul's brother Jimmy, 20 percent by a trust with Paul's mother Zelda and her...
-
Assume that you are the owner/operator of College Park Veterinary Clinic. At the end of the second year of operations (June 30, 2020), the following financial data for the company are available: Cash...
-
Procter & Gamble (P&G) is one of the largest consumer products companies in the world, famous for such brands as Crest and Tide. Financial information for the company for three recent years is as...
-
Love Theatre Inc. owns and operates movie theaters throughout New Mexico and Utah. Love Theatre has declared the following annual dividends over a six-year period: 2007, $16,000; 2008, $48,000; 2009,...
-
You and some friends have decided to start an investment club. Several of the new members of the club, however, have no knowledge of financial statements, particularly the income statement. They...
-
When Natasha saves $13 more, she will have enough money to buy a basic MP^(3) player. The player she wants to buy costs $204, which is three times the cost of the basic player.
-
Massless strings are wrapped around several discs of equal mass. Boxes of varying masses are hung from the strings. If the discs are held static, answer the following questions: (a) (b) (d) y y M M...
-
Your mortgage has 20 years remaining, with $800 monthly payments, and $103,184 in remaining principal. If you refinance with a new 30-year mortgage, the payments will be $760, so you will save $40...
-
Jennifer believes that Northern Wine stock is going to decline in value so she is short selling 878 shares at $38.84 a share. Her initial margin requirement is 0.7 percent and the maintenance margin...
-
On May 1, 2019, Tumbler, Inc. bought a 3-year insurance policy for $12240 effective immediately. Assume that adjusting entries are prepared annually on the fiscal year- end on December 31. No more...
-
Describe Vendor Managed Inventory (VMI), Co-Managed Inventory, Collaborative Forecasting and Replenishment (CFAR), and Collaborative Planning Forecasting and Replenishment (CPFR).
-
The following information is available for Partin Company: Sales $598,000 Sales Returns and Allowances 20,000 Cost of Goods Sold 398,000 Selling Expense 69,000 Administrative Expense 25,000 Interest...
-
Perform the operations in Problems 718. a. 5 + 2 6 b. 7 + 3 2
-
A Kirk Limited is trying to determine the value of its ending inventory as of February 28, 2012, the companys year-end. The accountant counted everything that was in the warehouse, as of February 28,...
-
Turner Distribution markets CDs of numerous performing artists. At the beginning of March, Turner had in beginning inventory 2,500 CDs with a unit cost of $7. During March, Turner made the following...
-
Remsen Company Inc. had a beginning inventory of 100 units of Product MLN at a cost of $8 per unit. During the year, purchases were: Feb. 20 600 units at ... $ 9 May 5 500 units at ... $10 Aug. 12...
-
You anticipate the receipt of money in 200 days, which you will use to purchase stocks in a particular company. The stock is currently selling for $51 and will pay a $0.5 dividend in 50 days and...
-
1) Based on the stock chart for Michaels Companies Inc, what do you think the short and long-term growth potentials are for this company? (discuss the advantages/disadvantages) Link to the stock...
-
After being drafted in the first round of the NFL draft, a star defensive end invests his signing bonus of $9,827,000.00 in a mutual fund. The fund pays on average 7.00% APR. The player will not...
Study smarter with the SolutionInn App