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    Earnings Per Share - Calculation

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    34.
    Construct a balance sheet for Sophie's Sofas given the following data. (Be sure to list the assets and liabilities in order of their liquidity.)

    Cash balances = $ 11,500
    Inventory of sofas = $ 215,000
    Store and property = $ 115,000
    Accounts receivable = $ 23,500
    Accounts payable = $ 18,500
    Long-term debt = $ 185,000
    ________________________________________

    BALANCE SHEET OF SOPHIE'S SOFAS
    Assets Liabilities & Shareholders' Equity

    35.
    The table below contains data on Fincorp, Inc., the balance sheet items correspond to values at year-end of 2010 and 2011, while the income statement items correspond to revenues or expenses during the year ending in either 2010 or 2011. All values are in thousands of dollars.

    2010 2011
    Revenue $4,300 $4,400
    Cost of goods sold 1,750 1,850
    Depreciation 530 550
    Inventories 315 380
    Administrative expenses 530 580
    Interest expense 180 180
    Federal and state taxes* 430 450
    Accounts payable 315 380
    Accounts receivable 418 480
    Net fixed assets† 5,300 6,130
    Long-term debt 2,300 2,700
    Notes payable 1,015 630
    Dividends paid 470 470
    Cash and marketable securities 830 330
    ________________________________________

    * Taxes are paid in their entirety in the year that the tax obligation is incurred.
    † Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed.

    Suppose that Fincorp has 500,000 shares outstanding. What were earnings per share? (Round your answers to 2 decimal places.)

    Earnings per Share

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    https://brainmass.com/business/current-assets/earnings-per-share-calculation-499132

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    The expert examines earning per share calculation.

    $2.19

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