1. Income Statement Bullseye, Inc.'s 2008 income statement lists the following income and expenses: EBIT = $705,500, Interest expense = $51,000, and Taxes = $222,500. Bullseye's has no preferred stock outstanding and 250,000 shares of common stock outstanding. What are the 2008 earnings per share?
$2.62
$1.93
$1.73
$2.82
2. Statement of Retained Earnings TriCycle, Corp. began the year 2008 with $28 million in retained earnings. The firm earned net income of $8.3 million in 2008 and paid $1.13 million to its preferred stockholders and $3.13 million to its common stockholders. What is the year-end 2008 balance in retained earnings for TriCycle?
$36.3 million
$40.56 million
$28 million
$32.04 million
3. Statement of Retained Earnings Triplette, Corp. began the year 2008 with –$5.04 million in retained earnings. The firm earned net income of $10.04 million in 2008 and paid $2.04 million to its preferred stockholders and $1.04 million to its common stockholders. What is the year-end 2008 balance in retained earnings for Triplette?
$5.04 million
$18.16 million
$8.08 million
$1.92 million