At December 31, 2008, Amad Company had 600,000 shares of common stock issued and outstanding, 400,000 of
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At December 31, 2008, Amad Company had 600,000 shares of common stock issued and outstanding, 400,000 of which had been issued and outstanding throughout the year and 200,000 of which were issued on October 1, 2008. Net income for 2008 was $3,000,000, and dividends declared on preferred stock were $400,000. Compute Amad’s earnings per common share. (Round to the nearest penny.)
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...
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Related Book For 
Intermediate Accounting principles and analysis
ISBN: 978-0471737933
2nd Edition
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
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