At December 31, 2020 Sunland Company had 310000 shares of common stock and 10700 shares of 7%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2020 or 2021. On January 30, 2022, prior to the issuance of its financial statements for the year ended December 31, 2021, Sunland declared a 100% stock dividend on its common stock. Net income for 2021 was $1130000. In its 2021 financial statements, Sunland's 2021 earnings per common share should be

At December 31, 2020 Sunland Company had 310000 shares of common stock and 10700 shares of 7%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2020 or 2021. On January 30, 2022, prior to the issuance of its financial statements for the year ended December 31, 2021, Sunland declared a 100% stock dividend on its common stock. Net income for 2021 was $1130000. In its 2021 financial statements, Sunland's 2021 earnings per common share should be

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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