5. Donnell Corp. had 100,000 shares of 8% preferred stock, $100 par, and 500,000 shares of $1 par common stock outstanding throughout the year. Net income for the year was $4,800,000, and Donnell declared and distributed a cash dividend of $4 per share on its common stock. Earnings per share amounted to: 12-6 Instructor's Resource Manual Copyright © 2021 McGraw-Hit Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education Chapter 12-Revenue Recognition and Reporting Results of Operations a $8.80. b $4.00. C $8.00. d $2.00.
5. Donnell Corp. had 100,000 shares of 8% preferred stock, $100 par, and 500,000 shares of $1 par common stock outstanding throughout the year. Net income for the year was $4,800,000, and Donnell declared and distributed a cash dividend of $4 per share on its common stock. Earnings per share amounted to: 12-6 Instructor's Resource Manual Copyright © 2021 McGraw-Hit Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education Chapter 12-Revenue Recognition and Reporting Results of Operations a $8.80. b $4.00. C $8.00. d $2.00.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Aa 51.
Transcribed Image Text:5.
Donnell Corp. had 100,000 shares of 8% preferred stock, $100 par, and 500,000 shares of $1 par
common stock outstanding throughout the year. Net income for the year was $4,800,000, and
Donnell declared and distributed a cash dividend of $4 per share on its common stock. Earnings per
share amounted to:
12-6
Instructor's Resource Manual
Copyright © 2021 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education
Chapter 12-Revenue Recognition and Reporting Results of Operations
a $8.80.
b $4.00.
C $8.00.
d $2,00.
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