Question: The following amounts were selected from the annual financial statements

The following amounts were selected from the annual financial statements for Genesis Corporation at December 31, 2015 (end of the third year of operations):
Required:
Analyze the data on the 2015 financial statements of Genesis by answering the questions that follow. Show computations.
1. What was the gross margin on sales?
2. What was the amount of earnings per share?
3. If the income tax rate was 25 percent, what was the amount of pretax earnings?
4. What was the average issuance price per common share?
5. Assuming that no dividends were declared or paid during 2015, what was the beginning balance (January 1, 2015) of retained earnings?

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  • CreatedAugust 04, 2015
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