Question: Net income was $ 2 3 0 , 5 0 0 for the year. Throughout the year the company had outstanding 1 5 , 0

Net income was $230,500 for the year. Throughout the year the company had outstanding 15,000 shares of $3.00,$50 par value
preferred stock and 106,000 shares of common stock.
Required:
Calculate basic earnings per share of common stock for the year.
Note: Round "Earnings per share-basic" to 2 decimal places.
Net income was $230,500 for the year. Throughout the year the

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