Net income was $388,500 for the year. Throughout the year the company had outstanding 5,000 shares of

Question:

Net income was $388,500 for the year. Throughout the year the company had outstanding 5,000 shares of $6.50, $100 par value preferred stock and 80,000 shares of common stock.


Required:
Calculate basic earnings per share of common stock for the year.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: