Markus Company$$s common stock sold for $$6\mathrm{.}50$ per share at the end of this year. The company paid a common stock dividend of $$0\mathrm{.}91$ per share this year. It also provided the following data excerpts from this year$$s financial statements:

Ending Balance Beginning Balance

Cash $ $57,500$ $ $50,000$

Accounts receivable $ $108,000$ $ $75,000$

Inventory $ $83,500$ $ $108,000$

Current assets $ $249,000$ $ $233,000$

Total assets $ $975,000$ $ $1,086,000$

Current liabilities $ $97,500$ $ $109,500$

Total liabilities $ $240,000$ $ $216,000$

Common stock, $$1$ par value $ $185,000$ $ $185,000$

Total stockholders$$ equity $ $735,000$ $ $870,000$

Total liabilities and stockholders$$ equity $ $975,000$ $ $1,086,000$

This Year

Sales $($all on account$)$ $ $1,275,000$

Cost of goods sold $ $739,500$

Gross margin $ $535,500$

Net operating income $ $419,250$

Interest expense $ $19,500$

Net income $ $279,825$

Foundational $14-1($Algo$)$

Required:

$1.$ What is the earnings per share?

Answer rating: 100% (QA)

Calculating Earnings per Share EPS for Markus Company We can calculate the earnings per shar... View the full answer