For 2009, Flamingo Products had a net income of $1,000,000. At dec. 2009, there were 800,000 shares outstanding. The company paid $200,000 in interest payments to creditors. What is Flamingo's basic earnings per share for 2009?

For 2009, Flamingo Products had a net income of $1,000,000. At dec. 2009, there were 800,000 shares outstanding. The company paid $200,000 in interest payments to creditors. What is Flamingo's basic earnings per share for 2009?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 2P

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Question

For 2009, Flamingo Products had a net income of $1,000,000. At dec. 2009, there were 800,000 shares outstanding. The company paid $200,000 in interest payments to creditors.

What is Flamingo's basic earnings per share for 2009?

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