Nikennis Corporation has outstanding at December 31, 2012, 50,000 shares of $20 par value, cumulative, 8% preferred
Question:
All shares were outstanding the entire year. During 2012, Nikennis earned total revenues of $2,000,000 and incurred total expenses (except income taxes) of $1,200,000. Nikennis’s income tax rate is 30%.
Instructions
Compute Nikennis’s 2012 earnings per share.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... 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,...
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Step by Step Answer:
Net income 2000000 1200000 800000 800000 30 X 800000 560000 Preferred dividends 50000 X 20 X 8 80000 Average common shares outstanding 200000 Earnings per share 560000 80000 ...View the full answer
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Ali Khawaja
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Related Book For 
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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