Speedy Loan Companys balance sheet at December 31, 2014 reports the following: Preferred stock, $ 20 par
Question:
Speedy Loan Company’s balance sheet at December 31, 2014 reports the following:
Preferred stock, $ 20 par value, 3%, 11,000 shares issued .........$ 220,000
Common stock, $ 2.50 par, 1,300,000 shares issued...................3,250,000
Treasury stock, common, 120,000 shares at cost ......................... 480,000
During 2014, Speedy earned net income of $ 5,700,000. Compute Speedy 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.
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Related Book For 
Financial Accounting
ISBN: 978-0133427530
10th edition
Authors: Walter Harrison, Charles Horngren, William Thomas
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