18 ) Slack Inc . borrowed $ 320,000 on April 1 . The note requires interest at 12 % and principal to be paid in one year . How much interest is recognized for the period from April 1 to December 31 ?
19 ) Venible newspapers sold 6,000 of annual subscriptions at $ 125 each on June 1 . How much unearned revenue will exist as of December 31 ?
20 ) Hanson Co . had 200,000 shares of common stock , 20,000 shares of convertible preferred stock , and $ 1,000,000 of 5 % convertible bonds outstanding during 2015 . The preferred stock is convertible into 40,000 shares of common stock . During 2015 , Hanson paid dividends of $. 60 per share on the common stock and $ 2 per share on the preferred stock . Each $ 1,000 bond is convertible into 45 shares of common stock . The net income for 2015 was $ 400,000 and the income tax rate was 30 %.
Basic earnings per share for 2015 is ( rounded to the nearest penny )
21 ) Sealy Corporation had the following information in its financial statements for the years ended 2014 and 2015 : Cash dividends for the year 2015 $ 5,000 Net income for the year ended 2015 87,000 Market price of stock , 12 / 31 / 14 10 Market price of stock , 12 / 31 / 15 12 Common stockholders ' equity , 12 / 31 / 14 1,000,000 Common stockholders ' equity , 12 / 31 / 15 1,200,000 Outstanding shares , 12 / 31 / 15 100,000 Preferred dividends for the year ended 2015 10,000
What is the payout ratio for Sealy Corporation for the year ended 2015 ?