(6 points - 3 each) The balance sheet for Tyde Corporation at the end of...
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Accounting
(6 points - 3 each) The balance sheet for Tyde Corporation at the end of the current year indicates the following:
Bonds payable, 6%
$4,000,000
5% Preferred stock, $100 par
1,000,000
Common stock, $10 par
2,000,000
Income before income taxes was $480,000 and income taxes expense for the current year amounted to $144,000. Cash dividends paid on common stock were $300,000, and the common stock was selling for $22.88 per share at the end of the year. Dividends were paid on the preferred stock. There were no ownership changes during the year. Instructions Determine each of the following:
(b)
Earnings per share for common stock.
(c)
Price-earnings ratio.
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