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et income of $1 000 000 for 2014. The tax rate was 40%. As of 1/1/14, 200 000 shares of common stock were outstanding. On 6/1/14 30 000 new shares were sold. There are no potentially dilutive securities outstanding but JKL has 2,000 shares of 8% cumulative preferred stock ($10 par) which was outstanding all year. Calculate the ba

et income of $1 000 000 for 2014. The tax rate was 40%. As of 1/1/14, 200 000 shares of common stock were outstanding. On 6/1/14 30 000 new shares were sold. There are no potentially dilutive securities outstanding but JKL has 2,000 shares of 8% cumulative preferred stock ($10 par) which was outstanding all year. Calculate the ba

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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JKL Corp. reported net income of $1 000 000 for 2014. The tax rate was 40%. As of 1/1/14, 200 000 shares of common stock were outstanding. On 6/1/14 30 000 new shares were sold. There are no potentially dilutive securities outstanding but JKL has 2,000 shares of 8% cumulative preferred stock ($10 par) which was outstanding all year. Calculate the basic EPS

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