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Kingbird presented the following data: Net income $5,805,000 Bonds: 10%, $755,000 par value 743,000 Preferred stock: 100,000 shares outstanding, $100 par, 8% cumulative, not convertible 10,000,000 Common stock: Shares outstanding 1/1 500,000 Issued for cash, 4/1 800,000 Issued 40% stock dividend, 10/1 The Common Stock has a $1 par value. Compute earnings per share. (Round answer to 2 decimal places, e.g. 2.55.) Earnings per share $

Kingbird presented the following data: Net income $5,805,000 Bonds: 10%, $755,000 par value 743,000 Preferred stock: 100,000 shares outstanding, $100 par, 8% cumulative, not convertible 10,000,000 Common stock: Shares outstanding 1/1 500,000 Issued for cash, 4/1 800,000 Issued 40% stock dividend, 10/1 The Common Stock has a $1 par value. Compute earnings per share. (Round answer to 2 decimal places, e.g. 2.55.) Earnings per share $

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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Current Attempt in Progress Kingbird presented the following data: Net income $5,805,000 Bonds: 10%, $755,000 par value 743,000 Preferred stock: 100,000 shares outstanding, $100 par, 8% cumulative, not convertible 10,000,000 Common stock: Shares outstanding 1/1 500,000 Issued for cash, 4/1 800,000 Issued 40% stock dividend, 10/1 The Common Stock has a $1 par value. Compute earnings per share. (Round answer to 2 decimal places, e.g. 2.55.) Earnings per share $ eTextbook and Media Save for Later
Transcribed Image Text:Current Attempt in Progress Kingbird presented the following data: Net income $5,805,000 Bonds: 10%, $755,000 par value 743,000 Preferred stock: 100,000 shares outstanding, $100 par, 8% cumulative, not convertible 10,000,000 Common stock: Shares outstanding 1/1 500,000 Issued for cash, 4/1 800,000 Issued 40% stock dividend, 10/1 The Common Stock has a $1 par value. Compute earnings per share. (Round answer to 2 decimal places, e.g. 2.55.) Earnings per share $ eTextbook and Media Save for Later
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