Mattoon, inc., owns 80 percent of effingham company. for the current year, this combined entity reported consolidated net income of $424,900. of this amount $386,400 was attributable to mattoon’s controlling interest while the remaining $38,500 was attributable to the noncontrolling interest. mattoon has 168,000 shares of common stock outstanding and effingham has 25,500 shares outstanding.
neither company has issued preferred shares or has any convertible securities outstanding.
1. on the face of the consolidated income statement, how much should be reported as mattoon’s earnings per share?

Acompany set up a petty cash fund with $800. the disbursements are as follows: office supplies $300 shipping $50 postage $30 delivery expense $350 to create the fund, which account should be credited? a. postage b. cash at bank c. supplies d. petty cash

In 2000, campbell soup company launched an ad campaign that showed prepubescent boys offering soup to prepubescent girls. the girls declined because they were concerned about their calorie intake. the boys explained that “lots of campbell’s soups are low in calories,” which made them ok for the girls to eat. the ads were pulled after parents expressed concern. why were parents worried? i

Lambert manufacturing has $100,000 to invest in either project a or project b. the following data are available on these projects (ignore income taxes.): project a project b cost of equipment needed now $100,000 $60,000 working capital investment needed now - $40,000 annual cash operating inflows $40,000 $35,000 salvage value of equipment in 6 years $10,000 - both projects will have a useful life of 6 years and the total cost approach to net present value analysis. at the end of 6 years, the working capital investment will be released for use elsewhere. lambert's required rate of return is 14%. the net present value of project b is: