Question: Ringgold Corporation has outstanding at December 31 2017 50 000 shares

Ringgold Corporation has outstanding at December 31, 2017, 50,000 shares of $20 par value, cumulative, 6% preferred stock and 200,000 shares of $5 par value common stock. All shares were outstanding the entire year. During 2017, Ringgold earned total revenues of $2,000,000 and incurred total expenses (except income taxes) of $1,300,000. Ringgold’s income tax rate is 30%.
Instructions
Compute Ringgold’s 2017 earnings per share.


The weighted-average number of shares of common stock outstanding was 80,000 for 2016 and 100,000 for 2017.

Instructions
Calculate earnings per share and return on common stockholders’ equity for 2017 and
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  • CreatedMarch 02, 2015
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