Norris has the following capital structure: Preferred stock, $6\%,$ $$15$ par, $20,000$ shares issued and outstanding for the year Common stock, $$1$ par, $100,000$ shares issued and outstanding for the year Net income for the current year is $$168,000.$ Preferred dividends were declared and paid in the last three years. If the preferred stock is noncumulative and no dividends were declared in the current year, what is the company$$s earnings per share reported in its financial statements for the current year?  

Answer rating: 100% (QA)

To calculate the earnings per share EPS for the current year we need to determine the earnings avail... View the full answer