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?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 53E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...

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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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For 2009, Flamingo Products had net income of $1,000,000. At 1 January 2009, there were 1,000,000 shares outstanding. On 1 July 2009, the company issued 100,000 new shares for $20 per share. Th e company paid $200,000 in dividends to common shareholders. What is Flamingo’s basic earnings per share for 2009? A . $0.80.
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