Mason Manufacturing had 2012 earnings of $850,000. Cash dividends per share were $1.25. The company had an average of 350,000 shares of common stock outstanding. The market price of the stock at the end of the year was $30 per share. What are the earnings per share for 2012? A. $21.50 B. $1.50 C. $2.43 D. $24.00 E. This cannot be determined from the information given.

Mason Manufacturing had 2012 earnings of $850,000. Cash dividends per share were $1.25. The company had an average of 350,000 shares of common stock outstanding. The market price of the stock at the end of the year was $30 per share. What are the earnings per share for 2012? A. $21.50 B. $1.50 C. $2.43 D. $24.00 E. This cannot be determined from the information given.

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 55E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...

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Rebert Inc. showed the following balances for last year: Reberts net income for last year was 3,182,000. Refer to the information for Rebert Inc. above. Also, assume that the market price per share for Rebert is 51.50. Required: 1. Compute the dollar amount of preferred dividends. 2. Compute the number of common shares. 3. Compute earnings per share. (Note: Round to two decimals.) 4. Compute the price-earnings ratio. (Note: Round to the nearest whole number.)
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