Question

Easy Loan Company’s balance sheet at December 31, 2014 reports the following:
Preferred stock, $ 80 par value, 6%, 11,000 shares issued ............ $ 880,000
Common stock, $ 2.50 par, 1,400,000 shares issued..................... 3,500,000
Treasury stock, common, 130,000 shares at cost ......................... 900,000
During 2014, Easy Loan earned net income of $ 6,700,000. Compute Easy Loan’s earnings per common share (EPS) for 2014. (Round EPS to two decimal places.) Assume the number of shares issued and outstanding did not change during the year.



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  • CreatedJuly 25, 2014
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