Current Attempt in Progress The balance sheet for Concord Corporation at the end of the...
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Accounting
Current Attempt in Progress The balance sheet for Concord Corporation at the end of the current year includes the following:
Bonds payable, 6% $5,800,000
6% Preferred stock, $100 par 2,000,000
Common stock, $10 par 2,000,000
Net income was $525,000 and income tax expense for the current year amounted to $240,600. Cash dividends paid on common stock were $140,000, and the common stock was selling for $28 per share at the end of the year. There were no ownership changes during the year.
Determine each of the following: (Round earnings per share to 2 decimal places, e.g. 2.25 and all other answers to 1 decimal place, e.g. 5.2.)
a) Number of times that bond interest was earned _______ times
| b) | Earnings per share for common stock | $Enter a dollar amount rounded to 2 decimal places | per share | ||
| (c) | Price-earnings ratio | Enter a number rounded to 1 decimal place | times |
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