Cami’s floating casino achieved an earnings per share of $12 last accounting period. If her firm has 1,500 shareholders and 6,000 shares of common stock outstanding, how much net income did the firm earn last period? Group of answer choices$60,000$5,5004 shares$72,000
Question
Cami’s floating casino achieved an earnings per share of 60,00072,000
Solution
To calculate the net income, you need to multiply the earnings per share by the number of shares outstanding.
Here's how you do it:
Step 1: Identify the earnings per share (EPS). In this case, the EPS is $12.
Step 2: Identify the number of shares outstanding. In this case, there are 6,000 shares outstanding.
Step 3: Multiply the EPS by the number of shares outstanding.
So, 72,000
Therefore, the firm earned a net income of $72,000 last period.
Similar Questions
Assume Carin sells her 30-percent interest in Blue S Corp, Inc. to Cami on January 16, 2022 Using the daily allocation method, how much income does Carin report if Blue earned $20,000 from January 1 to January 15 and a total of $500,000 from January 1 through December 31, 2022? o $20,000. o None of the choices are correct. o $6,000. o $6,164
Hurricane Industries had a net income of $122,750 and paid 30 percent of this amount to shareholders in dividends. During the year, the company sold $75,750 in new common stock. What was the company's cash flow to stockholders?Group of answer choices$47,000−$36,825$38,925$36,825−$38,925
Select the correct answerA invest 16 part of total capital for 16 time. B invest 13 part of total capital for 13 time and C invest the rest capital for full time. if the total profit is Rs. 23000. Find the share of B?
Select the correct answerRavi and Nikhil started a business investing 48,000 and 64,000 respectively, but Nikhil left the business after 2 months. Find the difference between the share of profits of Ravi and Nikhil, if the total profit at the end of the year was 12,100?Options7,7006,3004,2008,400
ct answerA, B, C start a business each investing Rs 20,000. After 5 month A withdraws Rs 5,000, B withdraws Rs 4,000 & C invests Rs 6,000 more. At the end of the year, a total profit of Rs 69,900 was recorded. Find the share of A?
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.