Air Media. had 6,000 shares of $8, $100 par value preferred stock and 50,000 shares of common

Question:

Air Media. had 6,000 shares of $8, $100 par value preferred stock and 50,000 shares of common stock outstanding throughout 2014. During 2014, Designs declared a dividend of $7 per share on its common stock. Compute earnings per share for 2014 if Air Media's income statement showed net income of $780,000
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Intermediate Accounting

ISBN: 978-0324300987

10th Edition

Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones

Question Posted: