Peyton Approved Statement of Retained Earnings For Year Ended 12/31/20XX Beginning Balance: plus Comprehensive Income less Dividends: Preferred Common Ending Balance 0
2,213,122.59 12,187,717.62 50,000.00 5,250,000.00 $ 9,100,840.21 HOME
Peyton Approved Balance Sheet As of December 31, 20XX Assets Current Assets: Cash 1,488,999.34 Accounts Marketable Securities 5,235,000.00 Wages P Accounts Receivable 7,092,495.88 Interest P Baking Supplies 1,605,098.52 Current P Merchandise Inventory 128,152.63 Income ta Prepaid Rent 71,877.07 Accrued Prepaid Insurance 207,834.14 Accrued Misc. Supplies 17,647.42 Lease Lia Continge Deferred Total Current Assets $ 15,847,105.00 Long Term/Fixed Assets: Bonds Pa Land 250,000.00 Building 1,250,000.00 Baking Equipment 2,254,140.00 Accumulated Depreciati -328,282.00 Net Fixed assets $ 3,425,858.00 Patent Net of Amortization 0.00 Preferred 5,000 Common authori Retained Total Assets: $ 19,272,963.00
Liabilities and Owners' Equity Current Liabilities: s Payable 1,555,212.85 Payable 250,203.31 Payable 21,888.22 Portion of Bonds Payable 1,000,000.00 axes currently payable 1,042,493.16 Pension Liability 0.00 Employees Health Insuran 0.00 ability 0.00 ent Liability - Lawsuit 0.00 Tax Liability 52,325.25 Total Current Liabilities 3,922,122.79 Long Term Liabilities: ayable 10%, 20 year 4,000,000.00 Total Long Term Liabilities: 4,000,000.00 Total Liabilities: 7,922,122.79 d Stock - (10,000 authorized 500,000.00 issued, 10%, $100 par value) n Stock - (2,000,000 shares 1,750,000.00 ized, 1,750,000 issued, $1 par) d Earnings 9,100,840.21 Total Equity 11,350,840.21 Total Liabilities & Equity $ 19,272,963.00 HOME
Peyton Approved Earnings per Share For Year Ended 12/31/20XX Net Income 12,452,717.62 Less: Preferred Dividends 50,000.00 Earnings Available to Common Shareholde 12,402,717.62 Common Shares Outstanding 1,750,000 Basic EPS If all preferred shares are converted: Net Income Additional Common Shares Common Shares Outstanding after conversion EPS if preferred shares converted Preferred shares are antidilutive If all bonds are converted: Net Income Less: Preferred Dividends Add back interest on bonds, net of income tax Earnings Available to Common Shareholders Additional Common Shares Common Shares Outstanding after conversion Fully diluted EPS Peyton plans to raise $1,000,000 million of additional capital for the coming year that it will enable them to earn an additional $600,000 after tax. What would be t earnings per share if the raise the $1,000,000 by: a) issuing 10,000 share of 10% $100 par value convertible preferred st can be coverted into 10 shares of Peyton common stock? b) issuing $1,000,000 of 8% convertible bond, each $1,000 bond can b 5 shares of Peyton common stock? c) $500,000 of each of the above? Net Income
Less: Preferred Dividends Earnings Available to Common Shareholders Common Shares Outstanding Basic EPS a If all preferred shares are converted: Net Income Additional Common Shares Common Shares Outstanding after conversion EPS if preferred shares converted Preferred shares are antidilutive b If all bonds are converted: Net Income Less: Preferred Dividends Add back interest on bonds, net of income tax Earnings Available to Common Shareholders Additional Common Shares Common Shares Outstanding after conversion
r. They anticipate the impact on tock, where share be converted into? HOME
You've reached the end of your free preview.
Want to read all 38 pages?