Use the Cartwright's Data Set when making the following calculations: Cartwright's, a home-improvement store chain, reported these
Question:
Cartwright's, a home-improvement store chain, reported these summarized figures:
a. Compute earnings per share (EPS) for Cartwright's. The number of shares outstanding was 720,000.
b. Compute Cartwright's price/earnings ratio. The price of a share of Cartwright's is $62.50.
Transcribed Image Text:
Cartwright's Income Statement For the Year Ended December 31, 2017 1. 2017 34,988,900 21,766,030 13,222,870 5,088,250 8,134,620 217,800 7,916,820 1,925,750 5,991,070 6 Sales revenues Less: Cost of goods sold Gross profit Less: Operating expenses 10 Operating Income 11 Less: Interest expense 12 Income before Income taxes 13 Less: Income tax expense 14 Net Income 15 Cartwright's Balance Sheets December 31, 2017 and 2016 2017 2016 6. Assets Current assets: 8 Cash 9 Short-term Investments 10 Accounts recelvable 11 Inventory 12 Other current assets Total current assets 1,200,000 S 203,200 100,800 4,676,000 508,000 6,688,000 $ 11,437,000 18,125,000 S 2$ 810,000 260,000 378,500 4,190,000 409,500 6,048,000 11,620,000 17,668,000 13 14 Other noncurrent assets 15 Total assets 16 17 18 Current labilitles: 19 Accounts payable 20 Notes payable 21 Accrued llabilitles 22 23 Long-term liabilitles 24 Total llabilitles 25 26 27 Common stock, no par 28 Retalned earnings 29 Total stockholders' equity Llablitles 3,400,000 S 890,000 110,000 4,400,000 $ 4,300,000 8,700,000 S 2,750,000 655,000 195,000 3,600,000 4,216,000 7,816,000 Total current liabilitles Stockholders' equlty 2,502,000 $ 6,923,000 9,425,000 S 2,000,000 7,852,000 9,852,000 30 31 Total llabilitles and equity 32 18,125,000 S 17,668,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 68% (16 reviews)
1 EPS Net income Preferred dividends Numbe...View the full answer
Answered By
Ayush Jain
Subjects in which i am expert:
Computer Science :All subjects (Eg. Networking,Database ,Operating System,Information Security,)
Programming : C. C++, Python, Java, Machine Learning,Php
Android App Development, Xamarin, VS app development
Essay Writing
Research Paper
History, Management Subjects
Mathematics :Till Graduate Level
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Financial Accounting questions
-
Use the Hamiltons Data Set when making the following calculations: a. Compute earnings per share (EPS) for Hamiltons. The number of shares outstanding was 710,000. b. Compute Hamiltons price/...
-
Use the Hajjar's Data Set when making the following calculations: a. Compute earnings per share (EPS) for Hajjar's. The number of shares outstanding was 392,520. b. Compute Hajjar's price/earnings...
-
Use the Cartwright's Data Set to compute the following: Cartwright's, a home-improvement store chain, reported these summarized figures: a. The rate of inventory turnover for 2017. b. Days' sales in...
-
Explain why the economic order quantity is the intersection of the ordering-cost curve and the carrying-cost curve.
-
A grating with d = 1.50 m is illuminated at various angles of incidence by light of wavelength 600 nm. Plot, as a function of the angle of incidence (0 to 90o), the angular deviation of the...
-
Find the force acting in the members in the truss bridge shown below. There is a pin support at point A and roller support at point B. (a) Find the force for member AB, FAB. [8 points] Is the member...
-
Discuss the legal and ethical issues involved in Roe v. Wade.
-
Jackson, Inc.s fiscal year ends December 31. Selected transactions for the period 20-1 through 20-8 involving bonds payable issued by Jackson are as follows: 20-1 Oct. 30 Issued $600,000 of 10-year,...
-
Thornton Enterprises produces a product with fixed costs of $37,600 and variable cost of $3.30 per unit. The company desires to earn a $24,000 profit and believes it can sell 11,000 units of the...
-
The info following the questions are from the original example. Change the total fixed manufacturing overhead cost for the Milling Department in the area back to $390,000, keeping all of the other...
-
Parkins Corporation reported the following on its comparative income statement: Perform a horizontal analysis of revenues and gross profit-both in dollar amounts and in percentages-for 2017 and 2016....
-
Compute the dollar amount of change and the percentage of change in Gambol News Group's working capital each year during 2016 and 2017. Is this trend favorable or unfavorable? 2017 2016 2015 $275,640...
-
A retail business has sales of 100,000 cost of goods sold of 35,000 salaries of 15,000 rental of 4,000 and advertising of 8,000. All of the income and expenses have been paid out of the owners...
-
Describe the market multiple approach.
-
Identify what you believe are the three most important key performance indicators (KPIs) that the seafood restaurant Red Lobster should use to measure its success. Explain.
-
Describe the effect of a change in each of the following factors on the value of a call option: i. Stock price ii. Exercise price iii. Option life iv. Risk-free rate v. Stock price variance (that is,...
-
What is the difference between an operating merger and a financial merger?
-
Should preferred stock be considered as equity or debt? Explain.
-
Mega Hits Video Store maintains the following policies with regard to purchases of new videotapes at each of its branch stores: 1. Employees are required to take vacations, and the duties of...
-
The diameter of a sphere is 18 in. Find the largest volume of regular pyramid of altitude 15 in. that can be cut from the sphere if the pyramid is (a) square, (b) pentagonal, (c) hexagonal, and (d)...
-
Hoi Chong Transport, Ltd; operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is driven 105,000 kilometers during a year, the average operating cost is 11.4...
-
Hoi Chong Transport, Ltd; operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is driven 105,000 kilometers during a year, the average operating cost is 11.4...
-
The Lakeshore Hotels guest-days of occupancy and custodial supplies expense over the last seven months were; Guest-days is a measure of the overall activity at the hotel. For example, a guest who...
-
Rundle Industries produces two electronic decoders, P and Q. Decoder P is more sophisticated and requires more programming and testing than does Decoder Q. Because of these product differences, the...
-
What financial statement, which can be reported with or separate from the income statement, includes income-related items that affect the balance sheet but are not included in net income?
-
Suppose that (an) satisfies an #0 Vn N and lim =r <1. an Prove that Clan converges and in particular an converges. (a) Show that there exists kEN such that for all nk we have lan+1 Sans where s= (b)...
Study smarter with the SolutionInn App