Question: Kono Inc has net income of 200 000 average shares of
Kono Inc. has net income of $200,000, average shares of common stock outstanding of 40,000, and preferred dividends for the period of $20,000. What is Kono’s earnings per share of common stock? Tim Frye, the president of Kono, believes that the computed EPS of the company is high. Comment.
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