Author Question: The balance sheet for Blan Corporation at the end of the current year indicates the following:Bonds ... (Read 54 times)

Ale · **on:** Feb 5, 2023

The balance sheet for Blan Corporation at the end of the current year indicates the following:

Bonds payable, 8%......................................	$4,000,000
6% 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 per share at the end of the year. There were no ownership changes during the year.

Required:

Calculate each of the following:

a.	Earnings per share

b.	Price/earnings ratio

c.	Dividend payout ratio

wangyichun · **Reply #1 on:** Feb 5, 2023

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