The following information was drawn from the accounting records of Silverburg Company. (Round your answer to 2 decimal places.)- **Net income**: $216,000- **Preferred stock outstanding, 15% cumulative**: $56,000- **Market price per share of common stock**: $15- **Common stock outstanding**: $1,320,000- **Average number of common shares outstanding**: 116,000 shares- **Number of common shares outstanding at end of the accounting period**: 136,000 shares- **Dividends per share on common stock**: $1.30 per shareBased on this information, the company's earnings per share is presented as a multiple-choice question:- The answer cannot be determined from the information provided.- $1.79Note: The image does not include any graphs or diagrams and contains only textual information. **Question:**Based on this information, the company's earnings per share is**Multiple Choice Options:**- The answer cannot be determined from the information provided.- $1.79- $1.86- $1.90(Note: There are no graphs or diagrams present, just a multiple-choice question about the company's earnings per share.)

Earning per share = Net income available for equity shareholders / average number of shares outstanding. Given that, Net income = $216000 15% prefered stock = $56000 number of shares outstanding = 116000 shares Calculation of Earning per share- = Net income is available for equity shareholders / average number of shares outstanding. Net income available to common stock holders = Net income - preference dividend = $216000 - ($56000 * 15%) = $207600 Earning per share = Net income available for equity shareholders / average number of shares outstanding. = $207600 / 116000 shares = $1.79 per share

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The following information was drawn from the accounting records of Silverburg Company. (Round your answer to 2 decimal places.) Net income $ 216,000 56,000 Preferred stock outstanding, 15% cumulative Market price per share of common stock Common Stock outstanding Average number of common shares outstanding Number of common shares outstanding at end of the accounting period Dividends per share on common stock $ 15 $1,320,000 116,000 shares 136,000 shares 1.30 per share $ Based on this information, the company's earnings per share is

The following information was drawn from the accounting records of Silverburg Company. (Round your answer to 2 decimal places.) Net income $ 216,000 56,000 Preferred stock outstanding, 15% cumulative Market price per share of common stock Common Stock outstanding Average number of common shares outstanding Number of common shares outstanding at end of the accounting period Dividends per share on common stock $ 15 $1,320,000 116,000 shares 136,000 shares 1.30 per share $ Based on this information, the company's earnings per share is

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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