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  3. (6 points - 3 each) the balance sheet for tyde cor

(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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