Assume that Pharoah Corp. earned net income of $3,296,000 during 2026. In addition, it had 99,000...

 

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Assume that Pharoah Corp. earned net income of $3,296,000 during 2026. In addition, it had 99,000 shares of 9%, $100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2026. Compute earnings per share for 2026, using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, e.g. 2.55.) Earnings per share $ 1.87 Assume that Pharoah Corp. earned net income of $3,296,000 during 2026. In addition, it had 99,000 shares of 9%, $100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2026. Compute earnings per share for 2026, using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, e.g. 2.55.) Earnings per share $ 1.87