Allard Corporation had $90,000$ shares of $$2$ cumulative preferred stock, and $121,500$ shares of $$1$ par common stock outstanding throughout the year. Net income for the year was $$1,127,700,$ and Allard declared and distributed a cash dividend of $$3\mathrm{.}40$ per share on its common stock. What was the company$$s earnings per share of common stock?

Note: Round your answer to two decimal points.

Answer rating: 100% (QA)

To calculate the earnings per share of common stock we need to divide the net income by th... View the full answer