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et income referred dividends mares of common stock outstanding arket price per share of common stock $315,000 $10,000 45,000 $07.70 Determine the company's earnings per share on common stock. Round your answer to t quirement, if required.

et income referred dividends mares of common stock outstanding arket price per share of common stock $315,000 $10,000 45,000 $07.70 Determine the company's earnings per share on common stock. Round your answer to t quirement, if required.

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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Earnings per Share and Price-Earnings Ratio A company reports the following: Net income Preferred dividends Shares of common stock outstanding Market price per share of common stock $315,000 $18,000 45,000 $87.76 a. Determine the company's earnings per share on common stock. Round your answer to the nearest cent. Use the rounded answer of requirement a for subsequent requirement, if required. b. Determine the company's price-earnings ratio. Round to one decimal place.
Transcribed Image Text:Earnings per Share and Price-Earnings Ratio A company reports the following: Net income Preferred dividends Shares of common stock outstanding Market price per share of common stock $315,000 $18,000 45,000 $87.76 a. Determine the company's earnings per share on common stock. Round your answer to the nearest cent. Use the rounded answer of requirement a for subsequent requirement, if required. b. Determine the company's price-earnings ratio. Round to one decimal place.
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