Information from the financial statements of Park-Rao Industries included the following at December 31, 2024: Park-Raos net
Question:
Information from the financial statements of Park-Rao Industries included the following at December 31, 2024:
Park-Rao’s net income for the year ended December 31, 2024, is $520 million. The income tax rate is 25%. Park-Raos paid dividends of $2 per share on its preferred stock during 2024.
Required:
Compute basic and diluted earnings per share for the year ended December 31, 2024.
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