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At December 31, 2024 and 2023, Markle Company had 104,000 shares of common stock and 5,400 shares of 4%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2024 or 2023. Net income for 2024 was $540,000. For 2024, basic earnings per share was: Multiple Choice $2.16 О О $4.77. $4.98. O $6.42.

At December 31, 2024 and 2023, Markle Company had 104,000 shares of common stock and 5,400 shares of 4%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2024 or 2023. Net income for 2024 was $540,000. For 2024, basic earnings per share was: Multiple Choice $2.16 О О $4.77. $4.98. O $6.42.

FINANCIAL ACCOUNTING
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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At December 31, 2024 and 2023, Markle Company had 104,000 shares of common stock and 5,400 shares of 4%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2024 or 2023. Net income for 2024 was $540,000. For 2024, basic earnings per share was: Multiple Choice О $2.16 O $4.77. $4.98. $6.42.
Transcribed Image Text:At December 31, 2024 and 2023, Markle Company had 104,000 shares of common stock and 5,400 shares of 4%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2024 or 2023. Net income for 2024 was $540,000. For 2024, basic earnings per share was: Multiple Choice О $2.16 O $4.77. $4.98. $6.42.
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