Jostens Co. had 200,000 shares of common stock, 20,000 shares of convertible preferred stock, and $1,000,000 of 10% bonds outstanding during 2024. The preferred stock is convertible into 20,000 shares of common stock. During 2024, Jostens paid dividends of $1.20 per share on its common stock and $4.00 per share on its preferred stock. Each $1,000 bond is convertible into 45 shares of common stock. The net income for the year ended December 31, 2024 was $800,000. Assume the income tax rate was 30%. Diluted earnings per share for 2024 (rounded to the nearest penny) are:

Answer:

$3.28

Explanation:

Weighted average number of diluted common stocks = Number of common stock + Convertible preferred stock + [(convertible stock outstanding/Number of stock convertible)*Number of common stock]

Weighted average number of diluted common stocks = 200,000 + 20,000 + (1,000,000/$1,000)*45

Weighted average number of diluted common stocks = 200,000 + 20,000 + 45,000

Weighted average number of diluted common stocks = 265,000

Diluted earnings per share = Net income + Interest on convertible bonds / Weighted average number of  diluted common stocks

Diluted earnings per share = $800,000 + ($1,000,000*10%*(1-30%) / 265,000

Diluted earnings per share = $800,000 + $70,000 / 265,000

Diluted earnings per share = $870,000 / 265,000

Diluted earnings per share = $3.283018867924528

Diluted earnings per share = $3.28

Do you think people tailor their behavior to suit those in power more than they admit?

During 2021, its first year of operations, American Laminating Corporation reported an operating loss of $120 million for financial reporting and tax purposes. The enacted tax rate is 25%. In 2019, American reported a pretax accounting income of $40 million and applies a net operating loss carryforward up to 80% of taxable income. Which of the following is incorrect?

a. Income tax payable in 2018 is zero.
b. Net loss in 2018 is $79 million.
c. The deferred tax asset balance at the end of 2018 is $21 million.
d. The deferred tax asset balance decreases in 2019.
e. Income tax expense in 2019 is zero.

During the year, the Senbet Discount Tire Company had gross sales of $1.14 million. The firm’s cost of goods sold and selling expenses were $533,000 and $223,000, respectively. The firm also had notes payable of $880,000. These notes carried an interest rate of 7 percent. Depreciation was $138,000. The firm’s tax rate was 35 percent.
What was the firm’s operating cash flow? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Round your answer to the nearest whole number, e.g., 32.)

Manufacturing Income Statement, Statement of Cost of Goods Manufactured

Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December.

On Company Off Company
Materials inventory, December 1 $74,060 $96,280
Materials inventory, December 31 (a) 108,800
Materials purchased 188,110 (a)
Cost of direct materials used in production 198,480 (b)
Direct labor 279,210 216,630
Factory overhead 86,650 107,830
Total manufacturing costs incurred in December (b) 622,930
Total manufacturing costs 706,540 854,960
Work in process inventory, December 1 142,200 232,030
Work in process inventory, December 31 119,980 (c)
Cost of goods manufactured (c) 617,150
Finished goods inventory, December 1 125,160 107,830
Finished goods inventory, December 31 131,090 (d)
Sales 1,091,640 962,800
Cost of goods sold (d) 622,930
Gross profit (e) (e)
Operating expenses 142,200 (f)
Net income (f) 213,740

Required:
a. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers.
b. Prepare On Company's statement of cost of goods manufactured for December.
c. Prepare On Company's income statement for December.

What is my GPA if you have 5 A's and 1 F

Sample
is the number of people questioned for a survey.

The Least used communication
channel in an organization is usually
Select one:
a. Horizontal
b. Downward
c. Diagonal
d. Upward

= Horizontal​

What is the purpose of preserving historical data?
A.
legal compliance
B.
recruitment
C.
leave sanctions
D.
payroll

The difference between indirect tax and subsidy is known as:

Select one:
a. Net Indirect Tax
b. Depreciation
c. Capital consumption allowances
d. Net Factor Income from Abroad

= Net Indirect Tax​

The job satisfaction of an employee
is depending on the
Select one:
a. Behaviour
b. Attitude
c. Employer
d. Personality

= Attitude ​

if quantity demamded is completely unresponsive to changes in price ,demand is what?​

Equivalent units for the molding department totaled 18,600 during January for conversion costs. Fifteen thousand units were transferred out to the finishing department. If the items remaining in ending inventory are 40% complete as to conversion costs and 80% complete as to materials, how many physical units are in ending inventory?

Rodriguez Corporation issues 8,000 shares of its common stock for $208,800 cash on February 20. Prepare journal entries to record this event under each of the following separate situations.

a. The stock has a $14 par value.
b. The stock has neither par nor stated value.
c. The stock has a $7 stated value.

What can a speaker do to ensure that they are respectful of their audience, especially when speaking to a skeptical audience or an audience that has different values than their own? What considerations should a speaker take if they are presenting a topic that is new to the audience?

Which of the following situations generally exists when disinflation occurs?

Select one:
a. the rate of inflation is falling from 5% to 3%
b. the rate of inflation falling from 3% to -2%
c. 3% decrease in inflation and 2% fall in unemployment rate
d. 5% increase in inflation and 3%
increase in unemployment rate

= the rate of inflation is falling from 5% to 3%
​

Centrum vitamins segments its line of vitamins based on gender and age group (e.g., one line of vitamins is for men over the age of 50). This is an example of market segmentation based on variables of
a. demographics.
b. lifestyles.
c. psychographics.
d. behavior.
e. personality characteristics.

Congratulations! You just graduated with a degree in management. As you reflect on your school experience, you make a list of the reasons you were so efficient with your studies. Which of the following statements relate specifically to your efficiency?

a. Last year, you reviewed the course schedule to ensure you knew when to enroll in certain electives that are offered per year.
b. When registration opened for each term, you immediately registered for the classes you needed, especially the quickly.
c. Throughout your time in you chose electives that would provide you with a education, and based on easy you heard classes were.
d. After each semester, you asked your adviser to review your progress to ensure you remained on track for your anticipated graduation date.

Mullineaux Corporation has a target capital structure of 60 percent common stock, 5 percent preferred stock, and 35 percent debt. Its cost of equity is 12 percent, the cost of preferred stock is 5 percent, and the pretax cost of debt is 7 percent. The relevant tax rate is 35 percent.
a. What is Mullineaux's WACC?
b. The companies president has approached you about Mullineaux's capital structure. He wants to know why the company doesn't use more preferred stock financing because it costs less than debt. What would you tell the president?

Another factor influencing business ethics is _____, or what is fair according to prevailing standards of society.
Group of answer choices

equity

utilitarianism

validity

righteousness

justice

5) Clark Imports sold a depreciable plant asset for cash of $35,000. The accumulated
depreciation amounted to $70,000, and a loss of $5,000 was recognized on the sale. Under
these circumstances, the original cost of the asset must have been:

Why is a spending plan an important part of financial planning? Choose all that are correct. а b C Helps to manage your money in a positive manner Helps to set and reach goals Tells you what your net worth is Helps to analyze the opportunity costs of your trade-offs to maximize financial well-being Can help to Increase net worth ​

Using the following routing information and a From-To Chart, determine the total flow efficiency of the parts assuming an alphabetical order. Give your results in terms of percentage, not as a decimal value, i.e., 54.3 as opposed to .543.
Part Order Relative Weighted Value
1 R E B D C A S 4
2 R A B C D E S 2
3 R C B D A E S 3

Suppose you are an economist for Mattel, manufacturer of the doll Barbie, which was making an unsolicited bid to take over Hasbro, manufacturer of the doll G.I. Joe.

a. Would you argue that the relevant market is dolls, preschool toys, or all toys including video games? Why?

1. You would want the regulatory boards to see more competition, so you would argue that the relevant market is all toys, which is as broad as possible. This would make it less likely that the merger would violate merger guidelines.
2. You would want the regulatory boards to see more competition, so you would argue that the relevant market is all toys, which is as narrow as possible. This would make it less likely that the merger would violate merger guidelines.
3. You would want the regulatory boards to see more competition, so you would argue that the relevant market is dolls, which is as narrow as possible. This would make it less likely that the merger would violate merger guidelines.
4. You would want the regulatory boards to see more competition, so you would argue that the relevant market is dolls, which is as broad as possible. This would make it less likely that the merger would violate merger guidelines.

b. Would your answer change if you were working for Hasbro?

1. You would want to use the narrowest definition of the market, which would be dolls. This would make it less likely that the merger would violate merger guidelines.
2. You would want to use the narrowest definition of the market, which would be dolls. This would make it more likely that the merger would violate merger guidelines.
3. You would want to use the broadest definition of the market, which would be all toys. This would make it more likely that the merger would violate merger guidelines.
4. You would want to use the narrowest definition of the market, which would be all toys. This would make it less likely that the merger would violate merger guidelines.

Loggers are much __________ likely to supply wood to the market if property rights are not enforced.

Classify the source of market failure in each case listed.

a. A house party plays music at a very high volume, disturbing other residents in the neighborhood.
b. A single public utilities company is responsible for supplying electricity for an entire state. As a result, the utilities company can set the price of electricity.

Suppose you are conducting an analysis of the financial performance of Green Caterpillar Garden Supplies Inc. over the past three years. The company did not issue new shares during these three years and has faced some operational difficulties. The company has thus pilot tested some new forecasting strategies for better operations management. You have collected the company's relevant financial data, made reasonable assumptions based on the information available, and calculated the following ratios.
Ratios Calculated
Year 1 Year 2 Year 3
Price-to-cash-flow 6.20 8.06 9.03
Inventory turnover 12.40 14.88 16.67
Debt-to-equity 0.30 0.32 0.38
Based on the preceding information, your calculations, and your assumptions, which of the following statements can be included in your analysis report?
A. The company's creditworthiness has improved over these three years as evidenced by the increase in its debt-to-equity ratio over time.
B. The market value of Green Caterpillar Garden Supplies Inc.'s common shares declined over the three years.
C. A plausible reason why Green Caterpillar Garden Supplies Inc.'s price-to-cash-flow ratio has increased is that investors expect higher cash flow per share in the future.
. An improvement in the inventory turnover ratio could likely be explained by the new sales-forecasting strategies that led to better inventory management.

The Oklahoma Department of Transportation (ODOT) is looking at the purchase of a new technology for asphalt paving of major highways. The new machine will cost $1,000,000 and is expected to provide a net revenue of $150,000 per year for 9 years. There is no salvage value for this machine. If MARR=10% per year, what is the exact IRR for this project?
A. 15.15%
B. 13.68%
C. 6.47%
D. 2.14%

If the equipment account has a balance of INR. 22,50,000 and the accumulated depreciation
account has a balance of INR. 14,00,000, the book value of the equipment is
Select one:
O a. 8,50,000
O b. 17,00,000
O c. 14,00,000
O d. 36,50,000

An economist will consider the sunk cost of a product line before recommending an improvement to the product. True or false

Cost data for Disksan Manufacturing Company for the month ended January 31 are as follows:
Inventories January 1 January 31

Materials...........................$180,000.....................$145,500
Work in process....................334,600.....................290,700
Finished goods.....................675,000.....................715,000
Direct labor.........................................................$2,260,000
Materials purchased during January....................1,375,000
Factory overhead incurred during January:
Indirect labor......................................................115,000
Machinery depreciation.......................................90,000
Heat, light, and power.........................................55,000
Supplies..............................................................18,500
Property taxes.....................................................10,000
Miscellaneous costs............................................33,100
a. Prepare a cost of goods manufactured statement for January.
b. Determine the cost of goods sold for January.

Real and nominal income is calculated respectively at----

Select one:
a. Current price and current price
b. Constant price and Constant price
c. Current price and Constant Price
d. Constant price and Current price

= Constant price and Current price​