Based on the information contained in Table 2, what was the total amount of Bird Industries' common stock dividend for 2012?
Table 2
Bird Industries, Inc.
Balance Sheets
2011 2012
Cash $1,000 $?
Accounts receivable 5,000 6,000
Inventories 6,500 6,000
Land 10,000 12,000
Other fixed assets 8,000 9,000
Accumulated depreciation (1,000) (1,600)
Total assets $29,500 $?
Accounts payable $3,200 $ 6,800
Bonds 4,000 4,000
Common stock 17,000 16,000
Retained earnings 5,300 5,000
Total debt and equity $29,500 $?
Bird Industries, Inc.
Income Statement
Sales $84,000
Cost of goods sold 66,400
Gross profit $17,600
Operating expenses (13,000)
Depreciation (600)
EBIT $4,000
Interest expense (500)
EBT $3,500
Taxes (1,500)
Net Income $2,000
A) $800
B) $2,300
C) $2,000
D) Cannot be determined with available information
Answer: B
You might also like to view...
Stockmaster Corporation has provided the following contribution format income statement. Assume that the following information is within the relevant range. Sales (8,000 units)$320,000Variable expenses 192,000Contribution margin 128,000Fixed expenses 121,600Net operating income$6,400The margin of safety in dollars is closest to:
A. $128,000 B. $121,600 C. $6,400 D. $16,000
In the context of the barriers to international trade, the term _____ refers to a country's physical facilities that support economic activity.
A. quorum B. embargo C. logistics D. infrastructure
Explain the recording and posting processes.
What will be an ideal response?
In the Black-Scholes option pricing formula, N(d1) is the probability that a standardized, normally distributed random variable is:
A) less than or equal to N(d2). B) less than one. C) equal to one. D) equal to d1. E) less than or equal to d1.