Lark had net income for 2024 of $106,000. Lark had 35.000 shares of common stock outstanding at the beginning of the year and 43,000 shares of common stock outstanding at the end of theyear. There were 7,000 shares of preferred stock outstanding all year. During 2024, Lark declared and paid preferred dividends of $30,000. On December 31, 2024, the market price of Lark'scommon stock is $28 per share and the market price of its preferred stock is $60 per share. What is Lark's pricelearnings ratio at December 31, 2024? (Round any intermediate calculationsand your final answer to two decimal places)OA. 103OB. 11.36OC. 14.36OD. 30.77CED

Earnings per share is calculated by dividing earnings available to common stockholders' by weighted…

Lark had net income for 2024 of $106.000. Lark had 35.000 shares of common stock outstanding at the beginning of the year and 43,000 shares of e year. There were 7.000 shares of preferred stock outstanding all year. During 2024, Lark declared and paid preferred dividends of $30,000. On Decem common stock is $28 per share and the market price of its preferred stock is $60 per share. What is Lark's priceleamings ratio at December 31, 2024 and your final answer to two decimal places) OA 103 OB 11.36 OC. 14.36 OD. 30.77

Lark had net income for 2024 of $106.000. Lark had 35.000 shares of common stock outstanding at the beginning of the year and 43,000 shares of e year. There were 7.000 shares of preferred stock outstanding all year. During 2024, Lark declared and paid preferred dividends of $30,000. On Decem common stock is $28 per share and the market price of its preferred stock is $60 per share. What is Lark's priceleamings ratio at December 31, 2024 and your final answer to two decimal places) OA 103 OB 11.36 OC. 14.36 OD. 30.77

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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Question-based on, "Distributed to preferred stockholders". I have tried it but no correct yet. Any help would be appreciated.
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