A corporation had a current year net income of $2,375,000. It paid preferred dividends of $80,000 cash and had 500,000 weighted-average shares of common stock outstanding. Calculate the corporation's earnings per share.

A corporation had a current year net income of $2,375,000. It paid preferred dividends of $80,000 cash and had 500,000 weighted-average shares of common stock outstanding. Calculate the corporation's earnings per share.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 8RE: Given the following year-end information for Somerset Corporation, compute its basic earnings per...

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Question

General accounting

A corporation had a current year net income of
$2,375,000. It paid preferred dividends of $80,000
cash and had 500,000 weighted-average shares of
common stock outstanding.
Calculate the corporation's earnings per share.

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