Posted: July 12th, 2016
Gwinnett Park Co. reported net income of $916,800 for its fiscal year ended September 30, 2011. At the beginning of that year, 150,000 shares of common stock were outstanding. On February 1, 2011, an additional 30,000 shares were issues. On August 1, 2011, 12,000 shares were purchased as treasury stock. During the year, the company paid the annual dividend on 44,000 shares of 8%, $60 par value preferred stock that were outstanding during the entire fiscal year.
Calculate the earnings per share of common stock for the year ended September 30, 2011.
Lakefield Ice Ltd. sells 25,000 windows per year. The carrying cost per window is $3.70. Currently they order 1,000 windows at a time with a fixed cost per order of $38. If they switch to using economic order quantity, how much can they reduce their total inventory costs?
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