The Balance Sheets at the End of Each of the First

question 49

Multiple Choice

The balance sheets at the end of each of the first two years of operations indicate the following:
If net income is $250,000 and interest expense is $30,000 for Year 2, what are the earnings per share on common stock for Year 2?

• A) $4.16
• B) $4.32
• C) $4.02
• D) $2.49

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Definitions:

Somites

Blocks of mesoderm that are located on either side of the spine in the developing embryo, which will differentiate into the vertebrae, ribs, muscles, and dermis.

Mesonephros

One of three excretory organs appearing during embryonic development; forms caudal to the pronephros as the pronephros disappears. It is well developed and is functional for a time before the establishment of the metanephros, which gives rise to the kidney. It undergoes regression as an excretory organ, but its duct system is retained in the male as the efferent ductule and epididymis.

Mandibular Processes

Portions of the mandible or lower jawbone involved in the formation of the chin and sides of the lower jaw.

Mesonephros

An embryonic kidney that serves as an interim kidney while the final kidney (metanephros) is forming in vertebrates.