Athenian Corporation had net income of $34,000. The common shares outstanding at the end of the year were 8,500. Athenian declared a $3,200 dividend on its noncumulative, nonparticipating preferred stock. There were no other stock transactions. The company’s earnings per share is:

Burke Corporation sold 13,000 shares of its $10 par value common stock at a cash price of $15 per share. The entry to record this transaction would include:

Solis Company issued 5-year, 9.50% bonds with a par value of $109,000. The market rate when the bonds were issued was 9.00%. The company received $111,294 cash for the bonds. Using the effective interest method, the amount of recorded interest expense for the first semiannual interest period is:

Regarding warranties, companies should:

When a company provides additional shares to stockholders according to their percent ownership, it is known as a(n):

Baker Company purchases equipment at the beginning of the year at a cost of $130,000. The equipment is depreciated using the double-declining-balance method. The equipment’s useful life is estimated to be 4 years with a $10,800 salvage value. Depreciation expense in year 4 is:

Lieberman Company has the following per unit original costs and replacement costs for its inventory:   Part A: 50 units with a cost of $5 and replacement cost of $4.50. Part B: 75 units with a cost of $6 and replacement cost of $6.50. Part C: 160 units with a cost of $3 and replacement cost of $2.50.   Under lower of cost or market, the total value of this company’s ending inventory must be reported as:

When preparing a statement of cash flows using the indirect method, which of the following is correct?

The matching principle, as applied to bad debts, requires:

Baker Company purchases equipment at the beginning of the year at a cost of $130,000. The equipment is depreciated using the double-declining-balance method. The equipment’s useful life is estimated to be 4 years with a $10,800 salvage value. Depreciation expense in year 4 is: