Spring Inc. reports the following information:Net income: $750,000Dividends on common shares: $210,000Dividends on preferred shares: $90,000Average number of common shares outstanding: 250,000Spring Inc. should report earnings per share of: Question 7 options: $2.16 $1.80 $3.00 $2.64 In 2020, Big Mountain Inc. reported net income of $75,000, and declared and paid a dividend of $14,000. The balance in the retained earnings account on December 31, 2020, was $86,000. What was the opening balance in retained earnings on January 1, 2020? Question 8 options: $25,000 $147,000 $61,000 $86,000

7) Earning per share = (Net income - Preferred dividend)/Average number of common shares outstanding…

Answered: Spring Inc. reports the following…

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

Spring Inc. reports the following information:

Net income: $750,000

Dividends on common shares: $210,000

Dividends on preferred shares: $90,000

Average number of common shares outstanding: 250,000

Spring Inc. should report earnings per share of:

Question 7 options:

	$2.16
	$1.80
	$3.00
	$2.64

In 2020, Big Mountain Inc. reported net income of $75,000, and declared and paid a dividend of $14,000. The balance in the retained earnings account on December 31, 2020, was $86,000. What was the opening balance in retained earnings on January 1, 2020?

Question 8 options: