Thrifty Co. reported net income of $732,000 for its fiscal year ended January 31, 2014. At the beginning of that fiscal year, 248,000 shares of common stock were outstanding. On October 31, 2013, an additional 45,000 shares were issued. No other changes in common shares outstanding occurred during the year. Also during the year, the company paid the annual dividend on the 23,000 shares of 7%, $25 par value preferred stock that were outstanding the entire year. Required:

a.

Calculate basic earnings per share of common stock for the year ended January 31, 2014. (Round your answer to 2 decimal places. (e. g., 32.16))

b.

If Thrifty Co.'s preferred stock were convertible into common stock, diluted earnings per share can also be calculated. TRUE/ FALSE

Assuming that you’re recording the transactions on the first page of the journal, the page entry at the top right side of the journal should be a. one. b. j. c. j1. d. 2.

Yael decides that she no longer enjoys her job, and she quits to open a gluten-free, dairy-free kosher bakery. she pays a monthly rent for her store of $2,000. her labor costs for one month are $4,500, and she spends $6,000 a month on nut flours, sugar, and other supplies. yael was earning $2,500 a month working as a bank teller. these are her only costs. her monthly revenue is $14,000. which of the following statements about yael’s costs and profit are correct? correct answer(s) an accountant would say she is earning a monthly profit of $1,500. her implicit costs are $2,500 a month. an economist would tell her that she is experiencing a loss. her total costs are $12,500 a month. her explicit costs include the labor, rent, and supplies for her store. her economic profit is $1,500 a month.

Blue spruce corp. has the following transactions during august of the current year. aug. 1 issues shares of common stock to investors in exchange for $10,170. 4 pays insurance in advance for 3 months, $1,720. 16 receives $710 from clients for services rendered. 27 pays the secretary $740 salary. indicate the basic analysis and the debit-credit analysis.