At December 31, 2021, Hancock Company had 500,000 shares of common stock issued and outstanding, 400,000 of which had been issued and outstanding throughout the year and 100,000 of which were issued on October 1, 2021. Net income for the year ended December 31, 2021, was $1,700,000 and preferred stoe dividends were $40,000. What should be Hancock's 2021 earnings per common share, rounded to the nearest penny? O $3.91 O $4.00 O $3.78 O $4.25

At December 31, 2021, Hancock Company had 500,000 shares of common stock issued and outstanding, 400,000 of which had been issued and outstanding throughout the year and 100,000 of which were issued on October 1, 2021. Net income for the year ended December 31, 2021, was $1,700,000 and preferred stoe dividends were $40,000. What should be Hancock's 2021 earnings per common share, rounded to the nearest penny? O $3.91 O $4.00 O $3.78 O $4.25

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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