Question: Financial statement data for the year ending December 31 for Langford Company are as follows: Net income$450,000Preferred dividends$50,000Average number of common shares outstanding80,000shares Compute the

Financial statement data for the year ending December 31 for Langford Company are as follows:

Net income$450,000Preferred dividends$50,000Average number of common shares outstanding80,000shares

Compute the earnings per share for the year.

a.$6.25

b.$5.63

c.$6.00

d.$5.00

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