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3. For this question, use the information for Sports Baseballs, Inc. Sports Baseballs, Inc. is a corporation that manufacturers and sells baseballs across several states in the Southeast. It had sales of \$2.7 million during the last year. Expenses were as follows:
Cost of goods sold............................... \$1.2 million
Marketing and selling expenses............... \$175,000
Depreciation........................................ \$500,000
Interest expense.................................. \$200,000
Dividends paid..................................... \$150,000
(TCO 1) Suppose that Sports Baseball has 30,000 shares of stock. What is the dividends per share figure?

(Points : 3)
5.0
8.75
5.25
8.50

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Total dividends/Total shares outstanding

150,000/30,000
=5.0

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4. For this question, use the information for Sports Baseballs, Inc. Sports Baseballs, Inc. is a corporation that manufacturers and sells baseballs across several states in the Southeast. It had sales of \$2.7 million during the last year. Expenses were as follows:
Cost of goods sold............................... \$1.2 million
Marketing and selling expenses............... \$175,000
Depreciation........................................ \$500,000
Interest expense.................................. \$200,000
Dividends paid..................................... \$150,000

(TCO 1) Assuming a tax rate of 30%, the percentage of dividends per net income is approximately ______ and operating cash flow is _________ than net income.
Hint: You need to calculate the net income and divide dividends by the net income.

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