question 33
Multiple Choice
Reference: 13-13
Marcial Company
Balance Sheet
December 31, 20X6 and 20X5 (dollars in thousands) Current assets: Cash and marketable securities Accounts receivable, net Inventory Prepaid expenses Total current assets Noncurrent assets: Plant & equipment, net Total assets Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities Noncurrent liabilities: Bonds payable Total liabilities Shareholders’ equity: Preferred shares, $10 par, 8% Common shares, $5 par Additional paid-in capital–common shares Retained earnings Total shareholders’ equity 20X6$140110140504401,550$1,990$120101102403906301202002507901.36020X5$140110130504301,480$1,910$170401003104007101202002506301.200 2 Total shareholders’ equity Total liabilities & shareholders’ equity 1,360$1,9901,200$1,910 Marcial Company
Income Statement
For the Year Ended December 31, 20X6 (dollars in thousands) Sales (all on account) Cost of goods sold Gross margin Operating expenses Net operating income Interest expense Net income before taxes Income taxes (30%) Net income $1,6301,1404901903004026078$182
-Arquandt Company's net income last year was $550,000. shares of common stock and 50,000 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 $1.20 per share on the common stock and $1.70 per share on the preferred stock. The earnings per share of common stock are closest to:
Definitions:
Cerebral Angiography
A diagnostic imaging procedure that uses X-rays to visualize the blood vessels in the brain, often used to detect abnormalities such as aneurysms or blockages.
Aneurysm
A serious and potentially life-threatening bulge in the wall of a blood vessel.
Diagnose
The process of identifying a disease or condition from its signs and symptoms.
Myelography
An X-ray visualization of the spinal cord after the injection of a radioactive contrast medium or air into the spinal subarachnoid space (between the second and innermost of three membranes that cover the spinal cord). This test can reveal tumors, cysts, spinal stenosis, or herniated disks.