Questions -
Q1. Humble Company had a great year allowing for $2,450,000 in dividends over a weighted-average of 25,000,000 stocks. Their net income for the year was $205,000,000 with $2,000,000 sitting in their cash account. What is the EPS for Humble Company?
Q2. Back to Basics, Inc. is building Square One with the cost and other data listed in the table. Using the percentage of completion method to recognize revenue, compute the amount of gross profit recognized in 2012 and 2013. (Hint: Review past homework for help, the problem tells you where to look)
|
Year
|
2012
|
2013
|
|
Costs incurred during the year
|
600,000
|
1,750,000
|
|
Estimated Costs To Complete
|
2,000,000
|
0
|
|
Billing during the year
|
500,000
|
1,600,000
|