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.



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  • CreatedJuly 25, 2014
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