Question: Computing Earnings per Share Lee Corp. had 320,000 weighted average common shares outstanding in 2020 and 8,000 weighted average preferred shares outstanding in 2020. Lee

Computing Earnings per Share

Lee Corp. had 320,000 weighted average common shares outstanding in 2020 and 8,000 weighted average preferred shares outstanding in 2020. Lee Corp. reported net income of $720,000 in 2020, and declared and paid $80,000 and $16,000 of common stock and preferred stock dividends, respectively. Compute earnings per share for Lee Corp. for 2020.

Round the per share amount to two decimal places. Earnings per share $Answer

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