1.) Artist Company\'s net income last year was $570,000. The company has 153,500

Question

1.) Artist Company's net income last year was $570,000. The company has 153,500 shares of common stock and 43,400 shares of preferred stock outstanding. There was no change in the number of common or preferred shares outstanding during the year. The company declared and paid dividends last year of $1.80 per share on the common stock and $0.80 per share on the preferred stock. The earnings per share of common stock is closest to:

(PLEASE SHOW WORK TO GET THE RATING) thanks!!

A. $3.49

B. $4.29

C. $13.13

D. $3.71

2.)Schleich Corporation's most recent balance sheet appears below:

$736

$541

$736

$541

  Comparative Balance Sheet Ending
Balance Beginning
Balance   Assets:   Cash and cash equivalents $140 $89   Accounts receivable 67 46   Inventory 63 83   Property, plant and equipment 756 585   Less accumulated depreciation 290

262

  Total assets

$736

$541

  Liabilities and stockholder's equity:   Accounts payable $72 $93   Accrued liabilities 46 30   Income taxes payable 66 50   Bonds payable 170 225   Common stock 113 95   Retained earnings 269

48

  Total liabilities and stockholder's equity

$736

$541

Explanation / Answer

C. $395

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