Ringgold Corporation has outstanding at December 31, 2022, 50,000 shares of $20 par value, cumulative, 6% preferred
Question:
Ringgold Corporation has outstanding at December 31, 2022, 50,000 shares of $20 par value, cumulative, 6% preferred stock and 200,000 shares of $5 par value common stock. All shares were outstanding the entire year. During 2022, Ringgold earned total revenues of $2,000,000 and incurred total expenses (except income taxes) of $1,300,000. Ringgold's income tax rate is 20%.
Instructions
Compute Ringgold's 2022 earnings per share.
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Net income 20000001300000 700000 700...View the full answer
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Related Book For
Accounting Principles
ISBN: 9781119707110
14th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
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