Palace Loan Company's balance sheet at December 31, 2021 reports the following: (Click the icon to...

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Palace Loan Company's balance sheet at December 31, 2021 reports the following: (Click the icon to view the information.) During 2021, Palace Loan earned net income of $6,300,000. Requirement 1. Calculate Palace Loan's earnings per common share (EPS) for 2021. (Round EPS to two decimal places.) Assume the number of shares issued and outstanding did not change during the year. Select the formula and then enter the amounts to calculate earnings per share (EPS). (Abbreviations used: WA = weighted-average; CS = common shares. Round EPS to two decimal places, X.XX.) = EPS Preferred stock, $50 par value, 10%, 10,000 shares issued $ 500,000 Common stock, $0.75 par, 1,000,000 shares issued 750,000 Treasury stock, common, 80,000 shares at cost 720,000 Palace Loan Company's balance sheet at December 31, 2021 reports the following: (Click the icon to view the information.) During 2021, Palace Loan earned net income of $6,300,000. Requirement 1. Calculate Palace Loan's earnings per common share (EPS) for 2021. (Round EPS to two decimal places.) Assume the number of shares issued and outstanding did not change during the year. Select the formula and then enter the amounts to calculate earnings per share (EPS). (Abbreviations used: WA = weighted-average; CS = common shares. Round EPS to two decimal places, X.XX.) = EPS Preferred stock, $50 par value, 10%, 10,000 shares issued $ 500,000 Common stock, $0.75 par, 1,000,000 shares issued 750,000 Treasury stock, common, 80,000 shares at cost 720,000

Answer rating: 100% (QA)

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