Hammer Time Company reported the following: • Income from continuing operations of $1,000,000 • Loss due to discontinued operations after tax of ($200,000) • Net Income of $800,000 The average number of shares of common stock outstanding for the year is 500,000. In addition the company declared dividends on preferred stock of $40,000 and dividends on common stock of $60,000. Earnings per share on Net Income for Hammer Time equals: O $1.60 O $1.48 O $1.40 O $1.52

Hammer Time Company reported the following: • Income from continuing operations of $1,000,000 • Loss due to discontinued operations after tax of ($200,000) • Net Income of $800,000 The average number of shares of common stock outstanding for the year is 500,000. In addition the company declared dividends on preferred stock of $40,000 and dividends on common stock of $60,000. Earnings per share on Net Income for Hammer Time equals: O $1.60 O $1.48 O $1.40 O $1.52

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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