Answer:
the total cost of the merchandise is $3,267.90
Explanation:
The computation of the total cost of this merchandise is shown below;
Purchase $3,300
Less Purchase return -$230
Purchase less return $3,070
Less: discount at 3% on $3,070 -$92.10
Net purchase cost $2,977.90
Add: transportation $290
Total cost $3,267.90
hence, the total cost of the merchandise is $3,267.90
What is the value today of $1,300 per year, at a discount rate of 9 percent, if the first payment is received 8 years from now and the last payment is received 25 years from today
Answer:
$6,226.52
Explanation:
Present value is the sum of discounted cash flows
Present value can be calculated using a financial calculator
Cash flow year 1 to 7 = 0
Cash flow each year from year 8 to 25 = 1300
I = 9%
PV = $6,226.52
To find the PV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
Sunland Co. uses the retail inventory method. The following information is available for the current year. Cost Retail Beginning inventory $ 318000 $494000 Purchases 1240000 1720000 Freight-in 23000 — Employee discounts — 8500 Net markups — 66000 Net markdowns — 86000 Sales revenue — 1620000 If the ending inventory is to be valued at approximately lower of average cost or market, the calculation of the cost ratio should be based on cost and retail of
Answer:
Sunland Co.
The calculation of the cost ratio should be based on cost and retail of $1,581,000 and $2,288,500 respectively.
Explanation:
a) Data and Calculations:
Cost Retail Cost to Retail Ratio
Beginning inventory $ 318,000 $494,000
Purchases 1,240,000 1,720,000
Freight-in 23,000 —
Employee discounts — 8,500
Net markups — 66,000
Goods available for sale $1,581,000 $2,288,500 69.08%
Less:
Net markdowns — 86,000
Sales revenue — 1,620,000
Estimated ending Inventory at retail $582,500
Estimated ending Inventory
at cost $402,391 ($582,500 * 69.08%)
Calculation of the cost ratio = $1,581,000/$2,288,500 * 100 = 69.08%
Fothergill Company makes 40,000 units per year of a part it uses in the products it manufactures. The unit product cost of this part is computed as follows:
Direct materials $23.40
Direct labor 22.30
Variable manufacturing overhead 1.40
Fixed manufacturing overhead 24.60
Unit product cost $71.70
An outside supplier has offered to sell the company all of these parts it needs for $59.10 a unit. If the company accepts this offer, the facilities now being used to make the part could be used to make more units of a product that is in high demand. The additional contribution margin on this other product would be $390,000 per year. If the part were purchased from the outside supplier, all of the direct labor, direct materials and variable manufacturing overhead costs of the part would be avoided. However, $21.90 of the fixed manufacturing overhead cost being applied to the part would continue even if the part were purchased from the outside supplier. This fixed manufacturing overhead cost would be applied to the company's remaining products.
Required:
a. How much of the unit product cost of $71.70 is relevant in the decision of whether to make or buy the part?
b. What is the net total dollar advantage or (disadvantage) of purchasing the part rather than making it? (remember that the facility could be used to produce a different product if we purchased the parts from the outside).
c. What is the maximum amount the company should be willing to pay an outside supplier per unit for the part if the supplier commits to supplying all 40,000 units required each year?
Answer and Explanation:
The computation is shown below:
a)
cost per unit
= direct materials + direct labor + variable manufacturing overheard + fixed manufacturing over eard
= $23.40 + $22.30 + $1.40 + ($24.60 - $21.90)
= $49.80
b)
The net advantage is
= manufacturing cost savings + addition contribution margin - cost of purchase of part
= $1,992,000 (40,000 ×$49.80) + $390,000 - $2,364,000 (40,000 × $59.10)
= $18,000
c)
total benefit is
= $1,992,000 + $390,000
= $2,382,000
Now
maximum amount per unit is
= $2,382,000 ÷ 40000
= $59.55
During 2017, half of the treasury stock was resold for $264,000; net income was $720,000; cash dividends declared were $1,620,000; and stock dividends declared were $620,000.
The 2017 sale of half of the treasury stock would:__________
Reduce retained earnings by $96,000
Reduce retained earnings by $64,000
Increase total shareholders' equity by $360,000
Reduce income before tax by $96,000
Answer:
The answer is "Reduce retained earnings by [tex]\$64,000[/tex]"
Explanation:
cost [tex]= \frac{720000}{2} = 360000[/tex]
The difference between the cost and sale [tex]= 360000-264000 = 96000[/tex]
First, buyback shares -payment of capital are debited = 32000
The rest is retained earnings adjusted
According to Gordon Tullock monopoly:_________
a. profits or rents are subject to rent seeking the welfare cost triangle
b. is subject to rent seeking X-inefficiency
c. is something that differentiates government monopolies from private monopolies
d. the theory of monopoly is superior to the theory of perfect competition
Answer:
a. profits or rents are subject to rent seeking the welfare cost triangle
Explanation:
Monopolies are businesses that have sole control of the supply and pricing of a product. Dead weight loss used to be regarded as consumer surplus that does not affect the amount of product that a monopolist can provide.
Gordon Tullock however argued that loss also occurs when businesses are seeking to be a monopoly. There is an associated cost on obtaining and maintaining a monopoly called rent seeking.
Also an additional cost as result of dead weight loss due to payment of tarrif. This can result from net welfare benefit or loss as a result of government policy change (this is referred to as welfare triangle).
Outline a research design using observation for each of the following situations:
a. A bank wishes to collect data on the number of customer services and the frequency of customer use of these services.
b. A state government wishes to determine the driving public's use of seat belts.
c. A researcher wishes to know how many women have been featured on Time covers over the years.
d. A human resource manager wants to know what salaries their key competitors are offering for some common positions.
e. A fast-food restaurant manger wishes to determine if they serve their customers as quickly as their competitors.
f. A magazine publisher wishes to determine exactly what people look at and what they pass over while reading one of its magazines.
g. An overnight package delivery service wishes to observe delivery workers beginning at the moment when they stop the truck, continuing through the delivery of the package, and ending when they return to the truck.
Explanation:
a) A bank wishes to collect data on the number of customer services and the frequency of customer use of these services.
Explanation:
a. A bank wishes to collect data on the number of customer services and the frequency of customer use of these services
Successfulness of the competition policy in South Africa
Answer:
Five examples that support successfulness of the competition policy of South Africa are: 1) The product choices along with its competitive prices were provided to the consumers. 2) Practices such as horizontal collusion and resale price maintenance was declared unlawful in 1984.
Explanation:
If the cost of the beginning work in process inventory is $70,400, costs of goods manufactured is $955,000, direct materials cost is $343,000, direct labor cost is $223,000, and overhead cost is $328,000, calculate the ending work in process inventory.
Answer:
Ending WIP= $9,400
Explanation:
Giving the following information:
beginning work in process inventory is $70,400
Costs of goods manufactured are $955,000
Direct materials cost is $343,000
Direct labor cost is $223,000
Overhead cost is $328,000
To calculate the ending work in process, we need to use the following formula:
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
955,000= 70,400 + 343,000 + 223,000 + 328,000 - Ending WIP
Ending WIP= $9,400
Riemer, Inc. has four departments. Information about these departments is listed below. Maintenance is a service department. If allocated maintenance cost is based on floor space occupied by each of the other departments, compute the amount of maintenance cost allocated to the Cutting Department.
Maintenance Cutting Assembly Packaging
Direct costs $20,000 $32,000 $72,000 $47,000
Sq. ft. of space 600 1,100 2,100 3,050
No. of employees 4 4 18 6
a. $3,520.
b. $5,000.
c. $20,000.
d. $3,874.
Answer:
a. $3,520.
Explanation:
The computation of the amount of maintenance cost allocated to the Cutting Department is given below:
= maintenance cost ÷ total floor space excluding maintenance cost
= $20,000 ÷ 6,250 × 1,100
= $3,520.
hence, the option is A.$3,520.
The 6,250 comes from
= 1,100 + 2,100 + 3,050
= 6,250
A T-bill has a discount Ask quote of 4.80 with 150 days to maturity and sells for $9800. The bill has a face value of $10,000. What is its Ask yield
Answer: 4.97%
Explanation:
Yield = (Face value / Purchase price - 1) * 365 days / Days to maturity
= (10,000 / 9,800 - 1) * 365 / 150
= 0.0204081632653 * 365/150
= 4.97%
in the month of march, chester received orders of 179 units at a price of $15.00 for their product clack, and in april receives an order for 45 units of their product clack at $15.00. chester uses the accrual method of accounting and offers 30 day credit terms. chester delivers 0 units in march, 179 units in april and 45 units in may. they received payment for 179 units in april, and payment for 45 units in may. how much revenue is recognized on the march income statement from this order
Answer:
$0
Explanation:
The computation of the revenue recognized is shown below:
= Price per unit × number of units delivered in march month
= $15 × 0 units
= $0
Since 0 units delivered in the march month and if we multiplied the price per unit with the march units i.e. 0 so the answer should be zero only
Holt Industries received a $2,000 prepayment from the Ramirez Company for the sale of new office furniture. Holt will bill Ramirez an additional $3,000 upon delivery of the furniture to Ramirez. Upon receipt of the $2,000 prepayment, how much should Holt recognize for a contract asset, a contract liability, and accounts receivable?
Answer and Explanation:
The computation of the contract asset, a contract liability, and accounts receivable is shown below:
The contract asset is zero as it is not satisfied with the performance obligation
The current liability is $2,000 as it denotes the deferred revenue of $2,000 so this represent the contract liability
And, the account receivable is zero as it does not have the account receivable till the delivery of the furniture
in this way it should be recorded
After a careful analysis, managers at Haremon's have concluded that 20 customers per hour need to check out. If the sole cashier can check out 25 customers per hour, what is the cashier's (implied) utilization?
Answer:
Haremon Corporation
The cashier's (implied) utilization is:
= 125%.
Explanation:
a) Data and Calculations:
Billable customers per hour = 25
Estimated number of customers that the cashier is expected to check out per hour = 20
Therefore, the cashier's (implied) utilization is the number of billable customers per hour divided by the total number of customers that the cashier is expected to check out per hour (x 100)
= 25/20 * 100 = 125%
The sales tax in Massachusetts is 5%. Joanne bought a wood stove with a sales tax of $15. What was the cost of the wood stove before tax
Answer:
$315
Explanation:
The before-tax cost of the wood stove would comprise of 100% sales price plus 5% sales tax as hinted.
If 5%=$15=sales tax
before-tax sales price=100% sales price+5% sales tax
before-tax sales price=105%
sales tax of 5%=$15
1%=$15/5
1%=$3
105%=$3*105
105%(before tax sales price)=$315
Big Canyon Enterprises has bonds on the market making annual payments, with 16 years to maturity, a par value of $1,000, and a price of $957. At this price, the bonds yield 9 percent. What must the coupon rate be on the bonds
Answer:
8.48%
Explanation:
Calculation to determine What must the coupon rate be on the bonds
First step is to find the coupon rate of the bond.
Coupon payment = $957 = C(PVIFA9.0%,16) + $1,000(PVIF9.0%,16)
Solving for the coupon payment will give us C= $84.83
Now let calculate the coupon rate using this formula
Coupon rate= Coupon payment/ Par value
Let plug in the formula
Coupon rate = $84.83 / $1,000
Coupon rate = .0848*100
Coupon rate =8.48%
Therefore the coupon rate on the bonds is 8.48%
Gross domestic product understates the total production of final goods and services because of the omission of inflation. intermediate goods. exports. the underground economy.
Answer:
the underground economy
Explanation:
Gross domestic product is defined as the monetary value of all goods and services that a country produces within a given period.
It is estimated by using income, expenditure, and production in markets.
However GDP does not consider the underground economy.
The underground economy is made up of transactions that are considered illegal or that do not meet up to the reporting requirements of the government.
In effect these are not reported in GDP so GDP is understated.
4. Which of the following situations typically would result from an appreciating U.S. dollar relative to the
Canadian dollar?
A. More Canadian tourists visit the U.S.
B. Canadians purchase more U.S. goods
C. Fewer American tourists visit Canada
D. Americans purchase more Canadian made products.
Answer:
D. Americans purchase more Canadian made products.
Explanation:
The situation that would typically result from an appreciating U.S. dollar relative to the Canadian dollar is "Americans purchase more Canadian made products."
When Americans purchase more Canadian-made products, the Canadian dollar will rise or appreciate against the U.S. dollar. This is based on the principle of trade balance, whereby the monetary value of a country's imports and exports are evaluated over a given period.
In this case, the monetary value of Canadian exports against the U.S. dollar will indicate a positive trade surplus, hence, the Canadian dollar or currency will appreciate against the U.S. dollar.
Julie is purchasing a home for $169,000.00. Her loan has been approved for a 30-year fixed-
rate loan at 5 percent annual interest. She will pay 20 percent of the purchase price as a down
payment. What is the total interest she will pay on her loan?
O $122,877.92
O $126,168.64
$135,200.87
O$142,613.78
The total interest she will pay on her loan is $ 126080.80
Step-by-step explanation:
Given : Julie is purchasing a home for $169,000.
She will pay 20 percent of the purchase price as a down payment.
So, 20% of $169,000 is given as ,
169000\cdot\frac{20}{100}=33800
Thus, amount left to pay = 169,000 - 33800 = $ 135200
Now, Her loan has been approved for a 30-year fixed-rate loan at 5 percent annual interest.
So, Finding monthly payment using formula,
P=\frac{PV\cdot r}{1-(1+r)^{-n}}
Where, PV = present amount
P = monthly payment
r is interest rate per period
n is time per period
Here, PV = 135200
time period = 30 × 12 = 360 months
Monthly interest rate = 5 % = \frac{5}{1200}
Substitute, we have,
P=\frac{135200\cdot\frac{5}{1200}}{1-\left(1+\frac{5}{1200}\right)^{-\left(30\cdot12\right)}}
Simplify, we have,
P = 725.78
Thus, Monthly payment is $ 725.78
Thus, the value of loan after 30 years becomes,
725.78\cdot30\cdot12=261280.8
Total interest paid = Total loan amount after 30 years - present amount
Total interest paid = 261280.8 - 135200 = 126080.8
Thus, The total interest she will pay on her loan is $ 126080.80
Capital budgeting is the process of analyzing: Group of answer choices Cash outflows only. Investments with certain outcomes only. Short-term investments. Operating revenues. Long-term investments.
Answer:
Long-term investments.
Explanation:
Capital budgeting can be regarded as process that is been utilized by business in determining the type proposed fixed asset purchases that need to be declined or should be accepted. This process helps in creating quantitative view as regards the proposed fixed asset investment, so that rational basis to make make a judgment can be surfaced. It should be noted that Capital budgeting is the process of analyzing Long-term investments.
Kelso Electric is debating between a leveraged and an unleveraged capital structure. The all equity capital structure would consist of 40,000 shares of stock. The levered capital structure would consist of 25,000 shares of stock plus $280,000 of debt with an interest rate of 7 percent. What is the break-even level of earnings before interest and taxes between these two options
Answer:
$52,267
Explanation:
Calculation to determine the break-even level of earnings before interest and taxes between these two options
EBIT/40,000 = [EBIT- ($280,000 ×0.07)]/25,000
EBIT/40,000 = [EBIT - ($19,600)]/25,000
Cross multiply
25,000EBIT=40,000(EBIT-19,600)
25,000EBIT=40,000EBIT-784,000,000
EBIT = $52,267
Therefore the break-even level of earnings before interest and taxes between these two options is $52,267
Doug Stamper just received an insurance settlement offer related to an accident he had several years ago. The offer gives Stamper a choice of one of the following three offers (payments are at the end of the period):
Option A: $2,000 per month for 84 months
Option B: $1,100 per month for 15 years
Option C: $125,000 lump sum today
Stamper can earn 6 percent on his investments. He does not care if he personally receives the funds or if they are paid to his heirs should he die within the settlement period. Which one of the following statements is CORRECT given this information?
a. Option B is the best choice because you will receive the most payments.
b. Option A is the best choice because it has the largest present value.
c. Option A is the best choice as it provides the largest monthly payment.
d. Option C is the best choice because it has the largest present value.
e. Option B is the best choice because it pays the largest total amount.
Answer:
Doug Stamper
The CORRECT statement is:
b. Option A is the best choice because it has the largest present value.
Explanation:
a) Data and Calculations:
Option A: $2,000 per month for 84 months is worth PV = $136,906.08:
N (# of periods) 84
I/Y (Interest per year) 6
PMT (Periodic Payment) 2000
FV (Future Value) 0
Results
PV = $136,906.08
Sum of all periodic payments $168,000.00
Total Interest $31,093.92
Option B: $1,100 per month for 15 years is worth PV = $130,353.87:
N (# of periods) 180
I/Y (Interest per year) 6
PMT (Periodic Payment) 1100
FV (Future Value) 0
Results
PV = $130,353.87
Sum of all periodic payments $198,000.00
Total Interest $67,646.13
Option C: $125,000 lump sum today is equal to PV.
Gibson Electronics identifies licensees in various countries who produce and sell the company's products in their countries in return for a royalty fee on every unit sold. Gibson Electronics’ approach is risky because of the problems associated with:_______
a. increased production costs.
b. doing business in a different culture where the rules of the game may be very different.
c. an increase in transportation costs, especially for those products that have a low value-to-weight ratio.
d. the possibility of an increase in trade barriers such as import tariffs or quotas.
e. sharing valuable technological know-how with a potential competitor.
Answer:
E) sharing valuable technological know-how with a potential competitor.
Explanation:
From the question we are informed about Gibson Electronics who identifies licensees in various countries who produce and sell the company's products in their countries in return for a royalty fee on every unit sold. Gibson Electronics’ approach is risky because of the problems associated with sharing valuable technological know-how with a potential competitor. Technological know-how in organization can be regarded as sets of knowledge as well as skills which is developed by that participants and is used to guide the acquisition as well as creation, and operation of computer-based systems which gives enablements or brings about facilitation of the performance of business processes, sharing this with competitors in business could be dangerous potential competitors can embrace it to move their business forward which will affect the owner of the Technological know how Businesses in the market.
A company discarded a computer system originally purchased for $8,500. The accumulated depreciation was $6,700. The company should recognize a (an):
Answer:
1800
Explanation:
A company threw away a computer that originally costs $8,500
They accumulated depreciation of $6,700
Hence the company will loss money, they would experience a loss of
8500-6700
= 1800
Hence the company will be at a loss of 1800
Frank works at a wealth management company and has been tasked with developing a system for aggregating client accounts into a single platform. Once the project is complete, Frank's boss asks him to give a presentation where he walks a focus group through the steps involved in setting up and using the platform. Which type of informative presentation is Frank giving?
Answer: Demonstration
Explanation:
informational presentation typically occurs in organizations and it's when information are being presented to the audience.
Since Frank will walks a focus group through the steps that are involved in setting up and using the platform, then the type of informative presentation that Frank is giving is demonstration.
The treasurer for Rahm Corp. was preparing a bank reconciliation as of September 30, 2017. The following items were identified: Rahm's book balance $32,800 Deposits in transit 4,300 Outstanding checks 2,200 Interest earned on checking account 100 Customer's NSF check returned by the bank 400 Rahm Corp.'s adjusted cash balance at September 30, 2017 is
Answer:
$32,500
Explanation:
The items that appear on the Bank Statement and not on the Cash Book are used to update the Cash Book Balance.
Rahm Corp
Cash Book
Debit :
Balance before adjustment $32,800
Interest earned $100
Total $32,900
Credit :
Dishonored check $400
Balance (adjusted) $32,500
Total $32,900
Therefore,
Rahm Corp.'s adjusted cash balance at September 30, 2017 is $32,500
Review the transactions and determine the accounts, the account types (use assets; liabilities; owner, capital; owner, withdrawals; revenue; and expenses), if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry.Received cash on account from a customer.Account #1 Account Type Increase/DecreaseIncreaseDecreaseDebit/CreditDebitCreditAccount #2 Account Type Increase/DecreaseIncreaseDecreaseDebit/CreditDebitCreditAccrued liability for utilities.Account #1 Account Type Increase/DecreaseIncreaseDecreaseDebit/CreditDebitCreditAccount #2 Account Type Increase/DecreaseIncreaseDecreaseDebit/CreditDebitCreditPurchased office supplies on accountAccount #1 Account Type Increase/DecreaseIncreaseDecreaseDebit/CreditDebitCreditAccount #2 Account Type Increase/DecreaseIncreaseDecreaseDebit/CreditDebitCreditPaid cash for rent.Account #1 Account Type Increase/DecreaseIncreaseDecreaseDebit/CreditDebitCreditAccount #2 Account Type Increase/DecreaseIncreaseDecreaseDebit/CreditDebitCreditPurchased office furniture on accountAccount #1 Account Type Increase/DecreaseIncreaseDecreaseDebit/CreditDebitCreditAccount #2 Account Type Increase/DecreaseIncreaseDecreaseDebit/CreditDebitCreditRecord the following transactions as journal entries.Collected $7,000 cash for servicesCollected $7,000 cash for servicesDateAccounts and ExplanationDebitCreditNov. 3Paid $7,000 cash on account.Paid $7,000 cash on account.DateAccounts and ExplanationDebitCreditNov. 4Paid $7,000 cash for rent.Paid $7,000 cash for rent.DateAccounts and ExplanationDebitCreditNov. 5Paid $5,000 for advertising in the local paperPaid $5,000 for advertising in the local paperDateAccounts and ExplanationDebitCreditNov. 5Bright, the owner, withdrew $7,000 cash.Bright, the owner, withdrew $7,000 cash.DateAccounts and ExplanationDebitCreditNov. 5
Waterway Industries is preparing its direct labor budget for May. Projections for the month are that 30600 units are to be produced and that direct labor time is three hours per unit. If the labor cost per hour is $18, what is the total budgeted direct labor cost for May?
Answer:
$1,652,400
Explanation:
Given that;
Projections for the month = 30,600 units
Direct labor time = 3 hours per unit
Labor cost per hour = $18
Then, Total budgeted direct labor cost for May would be;
= Projections for the month × Direct labor time × labor cost per hour
= 30,600 × 3 × $18
= $1,652,400
An actuary is a person who assesses various forms of risk. Based on past data, the holder of an automobile insurance policy pays an insurance premium of $1200 and has a 5% chance of an accident causing $1000 of damage, a 2% chance of $5000 damage and a 1% chance of totaling the car worth $25,000. The probability of the insurance holder making through the year without any accidents is 92%. Find the expected value and interpret it. Is the insurance company likely to make or lose money with this type of policy in the long run
Answer:
With this policy throughout the long run, the insurance company will make money. A further explanation is provided below.
Explanation:
According to the given values in the question,
The expected value will be:
⇒ [tex]E(value) = Sum \ of \ (x\times P(x))[/tex]
By putting all the given values, we get
⇒ [tex]=1000\times 0.05+5000\times 0.02+25000\times 0.01+0\times 0.92[/tex]
⇒ [tex]=50+100+250+0[/tex]
⇒ [tex]=400[/tex] ($)
As we can see that,
[tex]E(value)<premium[/tex]
[tex]400<1000[/tex]
Thus the above is the correct answer.
You're prepared to make monthly payments of $380, beginning at the end of this month, into an account that pays 5 percent interest compounded monthly. How many payments will you have made when your account balance reaches $24,391
Answer:
the nper is 57 months
Explanation:
The computation of the time period is given below:
Given that
PMT is $380
RATE = 5% ÷ 12 = 0.416666%
PV = $0
FV = $24,391
The formula is shown below
=NPER(RATE,PMT,FV,PV,TYPE)
After applying the above formula, the nper is 57 months
On December 31, 2020, Dow Steel Corporation had 610,000 shares of common stock and 31,000 shares of 9%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow issued a 4% common stock dividend on May 15 and paid cash dividends of $410,000 and $70,000 to common and preferred shareholders, respectively, on December 15, 2021. On February 28, 2021, Dow sold 63,000 common shares. In keeping with its long-term share repurchase plan, 2,000 shares were retired on July 1. Dow's net income for the year ended December 31, 2021, was $2,150,000. The income tax rate is 25%.
Required:
Compute Dow's earnings per share for the year ended December 31, 2021.
Answer:
$3.02 per share
Explanation:
The computation of the earning per share is shown below:
we know that
Earnings per share = (Net income - preferred dividend) ÷ Weighted average outstanding common shares
= ($2,150,000 - $70,000) ÷ 688,000 shares
= $3.02 per share
Date Particulars No. of shares
01/01-31/12 610000 × 12 ÷ 12 (610000 × 1.04) $634,400
28/02-31/12 63000 × 10 ÷ 12 (52500 × 1.04) $54,600
01/07-31/12 (2000) × 6 ÷ 12 -$1,000
Weighted average outstanding common shares 688,000