Oakridge Enterprises had a net income of $950,000 for 2023. During 2023, dividends of $150,000 were declared on preferred stock, and dividends of $250,000 were declared on common stock. There were no changes in the 250,000 shares of common stock or the 50,000 shares of preferred stock outstanding during 2023. Calculate the earnings per share (EPS) to be reported for 2023.

Oakridge Enterprises had a net income of $950,000 for 2023. During 2023, dividends of $150,000 were declared on preferred stock, and dividends of $250,000 were declared on common stock. There were no changes in the 250,000 shares of common stock or the 50,000 shares of preferred stock outstanding during 2023. Calculate the earnings per share (EPS) to be reported for 2023.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 19E: Lyon Company shows the following condensed income statement information for the year ended December...

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