Merge & Center $ % 60 DO INI Insert Delete Format pboard Conditional Format as Cell Formatting Table Styles Styles Sort & Find & Filter Select Font Alignment Number Cells fx Editing A D F B Score: F G H 1 K 0 L M N O R Choose exercise number (1-5) 1 11 ALT-EARNINGS PER SHARE Norton Corporation issued 1,000 shares of $100 par preferred stock at par. The preferred stock has a fixed dividend of 4.00%. The company also issued 100,000 shares of $1.00 par common stock, at par. The company earned revenue of $320,000 this year, and incurred expenses of $280,000. 0 0 0 1 What is the balance of the preferred stock account? 2 What is the balance of the common stock account? 3 If a preferred dividend is declared, how much will it be? 4 What was the net income for the year? 5 Compute the EPS (Earnings Per Share) for the year. (Note: on the EPS, there is a $.02 tolerance) 0 0 B 0 1 2 3 -4 -5 26 27 28 29 30 31 32 ALT-EP's e Ready