firm earns $895 million in profits and pays $626 million in dividends for the year. The firm has 135 million shares of preferred stock and 390 million shares of common stock. The preferred stock is guaranteed a dividend of $1.30 per year and costs $32 per share. The common stock costs $29 per share. What is the earnings per share for the common stock? Enter your response as dollars and cents rounded to 2 decimal places.

firm earns $895 million in profits and pays $626 million in dividends for the year. The firm has 135 million shares of preferred stock and 390 million shares of common stock. The preferred stock is guaranteed a dividend of $1.30 per year and costs $32 per share. The common stock costs $29 per share. What is the earnings per share for the common stock? Enter your response as dollars and cents rounded to 2 decimal places.

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Description: A firm earns $895 million in profits and pays $626 million in dividends for the year.The firm has 135 million shares of preferred stock and 390 million shares of common stock. The preferred stock is guaranteed a dividend of $1.30 per year and costs

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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