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Washington Enterprises had net income for 2016 of $109,000. Washington had 33,000 shares of common stock outstanding at the beginning of the year and 48,000 shares of common stock outstanding at the end of the year. There were 8,000 shares of preferred stock outstanding all year. During 2016, Washington declared and paid preferred dividends of $26,000. What is Washington's earnings per share? (Round the answer to two decimal places.) $2.27 $2.69 Ⓒ$2.05 $1.73

Washington Enterprises had net income for 2016 of $109,000. Washington had 33,000 shares of common stock outstanding at the beginning of the year and 48,000 shares of common stock outstanding at the end of the year. There were 8,000 shares of preferred stock outstanding all year. During 2016, Washington declared and paid preferred dividends of $26,000. What is Washington's earnings per share? (Round the answer to two decimal places.) $2.27 $2.69 Ⓒ$2.05 $1.73

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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Washington Enterprises had net income for 2016 of $109,000. Washington had 33,000 shares of common stock outstanding at the beginning of the year and 48,000 shares of common stock outstanding at the end of the year. There were 8,000 shares of preferred stock outstanding all year. During 2016, Washington declared and paid preferred dividends of $26,000. What is Washington's earnings per share? (Round the answer to two decimal places.) $2.27 O $2.69 Ⓒ$2.05 $1.73
Transcribed Image Text:Washington Enterprises had net income for 2016 of $109,000. Washington had 33,000 shares of common stock outstanding at the beginning of the year and 48,000 shares of common stock outstanding at the end of the year. There were 8,000 shares of preferred stock outstanding all year. During 2016, Washington declared and paid preferred dividends of $26,000. What is Washington's earnings per share? (Round the answer to two decimal places.) $2.27 O $2.69 Ⓒ$2.05 $1.73
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