Omega Inc. has 50,000 common shares outstanding throughout the year. It also had 10,000, 8% preferred shares, par $25, (cumulative and nonconvertible) outstanding throughout the year. Net income was $500,000. What are Omega Inc.'s earnings per share (EPS)?

Omega Inc. has 50,000 common shares outstanding throughout the year. It also had 10,000, 8% preferred shares, par $25, (cumulative and nonconvertible) outstanding throughout the year. Net income was $500,000. What are Omega Inc.'s earnings per share (EPS)?

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 54E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...

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Question

Get correct solution this financial accounting question

Omega Inc. has 50,000 common shares outstanding throughout the
year. It also had 10,000, 8% preferred shares, par $25, (cumulative and
nonconvertible) outstanding throughout the year. Net income was
$500,000.
What are Omega Inc.'s earnings per share (EPS)?

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