19) A corporation has 4,000 shares, 10% preferred stock of $55.00 par preferred stock (Preferred dividends...

 

Transcribed Image Text:

19) A corporation has 4,000 shares, 10% preferred stock of $55.00 par preferred stock (Preferred dividends are $22,000), and 8,000 shares of common stock outstanding. The net income for the year is $260,000. Calculate earnings per share. (Round your answer to the nearest cent.) A) $55.00 B) $29.75 C) $32.50 D) $65.00 19) A corporation has 4,000 shares, 10% preferred stock of $55.00 par preferred stock (Preferred dividends are $22,000), and 8,000 shares of common stock outstanding. The net income for the year is $260,000. Calculate earnings per share. (Round your answer to the nearest cent.) A) $55.00 B) $29.75 C) $32.50 D) $65.00

Answer rating: 100% (QA)

The numerator is net income 260000 minus the preferred dividends we will only use the dividend on th... View the full answer