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Sheridan Corporation reports net income of $ 481,750 and a weighted-average of 235,000 shares of common stock outstanding for the year. Sheridan has cumulative preferred stock dividends for the current year of $ 23,500 that were declared and paid. Compute the earnings per share of common stock. (Round answer to 2 decimal places, eg. 2.25.) Earnings per share 2$

Sheridan Corporation reports net income of $ 481,750 and a weighted-average of 235,000 shares of common stock outstanding for the year. Sheridan has cumulative preferred stock dividends for the current year of $ 23,500 that were declared and paid. Compute the earnings per share of common stock. (Round answer to 2 decimal places, eg. 2.25.) Earnings per share 2$

FINANCIAL ACCOUNTING
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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Sheridan Corporation reports net income of $ 481,750 and a weighted-average of 235,000 shares of common stock outstanding for the year. Sheridan has cumulative preferred stock dividends for the current year of $ 23,500 that were declared and paid. Compute the earnings per share of common stock. (Round answer to 2 decimal places, eg. 2.25.) Earnings per share %2$
Transcribed Image Text:Sheridan Corporation reports net income of $ 481,750 and a weighted-average of 235,000 shares of common stock outstanding for the year. Sheridan has cumulative preferred stock dividends for the current year of $ 23,500 that were declared and paid. Compute the earnings per share of common stock. (Round answer to 2 decimal places, eg. 2.25.) Earnings per share %2$
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