Program Corporation owns 70% of Solution Company. Selected financial data for each for the current year follows:
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Question:
Program Corporation owns 70% of Solution Company. Selected financial data for each for the current year follows:
Program Corporation:
Internally generated net income $125,000
Common shares outstanding 100,000
Solution Company:
Net income (adjusted for intercompany profits) $ 50,000
Common shares outstanding 10,000
Consolidated basic earnings per share (BEPS) is (round to the nearest cent):
a. $1.25
b. $1.64
c. $1.60
d. $1.59
Related Book For
Advanced Accounting
ISBN: 978-0538480284
11th edition
Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng
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