At December 31, 2023 and 2024, Funk & Noble Corporation had outstanding 820 million shares of common
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At December 31, 2023 and 2024, Funk & Noble Corporation had outstanding 820 million shares of common stock and 2 million shares of 8%, $100 par value cumulative preferred stock. No dividends were declared on either the preferred or common stock in 2023 or 2024. Net income for 2024 was $426 million. The income tax rate is 25%. Calculate earnings per share for the year ended December 31, 2024.
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Since the preferred stock is cumulative the 2024 dividends 8 x 200 mil...View the full answer
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