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The balance sheet and income statement of Eastland Products, Inc., are as follows

16 / 01 / 2019 Research Papers

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18. The balance sheet and income statement of Eastland Products, Inc., are as follows: Balance… 1 answer below » 18. The balance sheet and income statement of Eastland Products, Inc., are as follows: Balance Sheet, December 31, 2009 (in Millions of   Dollars) View complete question » Current assets $  40 Current liabilities $  30 Fixed assets, net 110 Long-term debt 40 Common stock ($1 par) 5 Contributed capital in excess of par  value 20 18. The balance sheet and income statement of Eastland Products, Inc., are as follows: Balance Sheet, December 31, 2009 (in Millions of   Dollars) Current assets $  40 Current liabilities $  30 Fixed assets, net 110 Long-term debt 40 Common stock ($1 par) 5 Contributed capital in excess of par  value 20 Retained earnings 55 Total assets $150 Total liabilities and equity $150 Income Statement for Year Ended December 31, 2009 (in Millions  of Dollars) Sales $120 Cost of sales 80 EBIT $ 40 Interest 5 EBT $ 35 Taxes (40%) 14 Net income (EAT) $21 Additional Information Total dividends                                                             $10 million Market price of common  stock                                    $32 a share Number of common shares issued                                    5 million INTERMEDIATE Using these data, determine the following: a. • Earnings per share b.   Price-to-earnings ratio c.    Book value per share d.   Market-to-book ratio e.    How much of the retained earnings total was added during 2009? f.    Show Eastland’s new balance sheet after the company sells 1 million new common shares in early 2010 to net $30 a share. Part of the proceeds, $10 million, is used to reduce current liabilities, and the remainder is temporarily deposited in the company’s bank account. Later, this remaining  amount (along with additional long-term debt financing) will be invested in new manufacturing facilities. View less » Jan 07 2016 10:51 AM


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