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Hardaway Fixtures’ balance sheet at December 31, 2020, included the following: Shares issued and outstanding:Common stock, $1 par                                                      $ 800,000Nonconvertible preferred stock, $50 par                              20,000 On July 21, 2021, Hardaway issued a 25% stock dividend on its common stock. On December 12, it paid $50,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2021, was $2,000,000.Required:Compute Hardaway’s earnings per share for the year ended December 31, 2021.

Hardaway Fixtures’ balance sheet at December 31, 2020, included the following: Shares issued and outstanding:Common stock, $1 par                                                      $ 800,000Nonconvertible preferred stock, $50 par                              20,000 On July 21, 2021, Hardaway issued a 25% stock dividend on its common stock. On December 12, it paid $50,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2021, was $2,000,000.Required:Compute Hardaway’s earnings per share for the year ended December 31, 2021.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Hardaway Fixtures’ balance sheet at December 31, 2020, included the following:

Shares issued and outstanding:
Common stock, $1 par                                                      $ 800,000
Nonconvertible preferred stock, $50 par                              20,000

On July 21, 2021, Hardaway issued a 25% stock dividend on its common stock. On December 12, it paid $50,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2021, was $2,000,000.
Required:
Compute Hardaway’s earnings per share for the year ended December 31, 2021.

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