Question

Hardaway Fixtures’ balance sheet at December 31, 2012, included the following:
Shares issued and outstanding:
Common stock, $1 par $800,000
Nonconvertible preferred stock, $50 par 20,000

On July 21, 2013, Hardaway issued a 25% stock dividend on its common stock. On December 12 it paid $50,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2013, was $2,000,000.

Required:
Compute Hardaway’s earnings per share for the year ended December 31, 2013.



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  • CreatedDecember 23, 2013
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