Fultz Company had 300,000 shares of common stock issued and outstanding at December 31,2014. During 2015, no
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Fultz Company had 300,000 shares of common stock issued and outstanding at December 31,2014. During 2015, no additional common stock was issued. On January 1, 2015, Fultz issued 400,000 shares of nonconvertible preferred stock. During 2015, Fultz declared and paid $150,000 cash dividends on the common stock and $125,000 on the nonconvertible preferred stock. Net income for the year ended December 31,2015, was $800,000. What should be Fultz 2015 basic earnings per share. Rounded to the nearest Penny?
a. 0.96
b. 1.75
c. 2.25
d. 2.67
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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