Hudson Motors reported $535,000 net income for the current year. Beginning common shares outstanding were 130,000. Hudson also had 10,000, 6% nonconvertible, cumulative, $100 par value preferred shares outstanding for the entire year. No cash dividends were declared. Compute basic earnings per share. (Round your answer to the nearest cent.)

Answer rating: 100% (QA)

To compute the basic earnings per share EPS you divide the net income attributable t... View the full answer