Jetty Loan Companys balance sheet reports the following: Preferred stock, $60 par value, 3%, 12,000 shares issued

Question:

Jetty Loan Company’s reports the following:
Preferred stock, $60 par value, 3%, 12,000 shares issued ............ $720,000
Common stock, $0.75 par, 1,100,000 shares issued..................... 825,000
Treasury stock, common, 90,000 shares at cost ........................... 540,000
During 2010 Jetty earned net income of $6,100,000. Compute Jetty’s earnings per common share for 2010. (Round EPS to two decimal places.)

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...