ACME, Inc. reported the following income statement for 2009:
Sales $2,500,000
Variable Costs 900,000
Fixed Operating Costs 700,000
EBIT 900,000
Interest Expense 200,000
EBT 700,000
Taxes (30%) 210,000
Net Income $490,000
Earnings Per Share $4.90
If ACME's sales next year increase by 20%, what will ACME's earnings per share be?
A) $7.58 B) $6.45 C) $5.76 D) $7.14
D
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?An enterprise that either take deposits or make loans but do not perform both the activities together, and therefore is not subject to the same restrictions as banks is known as
A. ?non-governmental organizations. B. ?corporations. C. ?nonbanks. D. ?business firms.
Bill and Bob share profits of their partnership in the ratio of 6:1 respectively. If the net income of the firm is $29,000, calculate Bill's share of net income. (Do not round any intermediate calculations.)
A) $20,714 B) $4143 C) $29,000 D) $24,857
Which of the following is TRUE of an effective accounting information system?
A) It has little influence in improving a company's internal control activities. B) The cost of using an accounting information system is the same for both small and largebusinesses. C) A compatible accounting information system works smoothly with the business' s employees and organizational structure. D) Large private companies prefer a manual accounting information system since their financial statements are not audited.
Which of the following countries has the fastest projected population growth between 2013 and 2025?
A. Canada B. United Kingdom C. Ethiopia D. United States E. Germany