As of December 31, 2016 and 2015, G Co. had 76,000 shares of common and 6,200 shares of 6%, $100 par value cumulative preferred shares outstanding. No dividends were declared on the common or preferred shares in 2016 or 2015. Net income for 2016 was $630,000. 

For 2016, calculate the basic earnings per common share.

Answer rating: 100% (QA)

SOLUTION To calculate the basic earnings per common share for G Co in 2016 we need to use the following formula Basic earnings per share EPS Net incom... View the full answer