The White River Mining Company is preparing it's year-end and you have been assigned the responsibility to calculate the Earnings Per Share (EPS) for the year. The Chief Accountant has provided you with the following information: The Pre-Tax profits of the company was $186,000 and White River Mining has calculated that Income taxes will be $34,000. White River Mining Company has 26,000 preferred shares outstanding with a $2.00 non-cumulative dividend rate. The weighted average number of shares outstanding for the year is 250,000.

A. 0.40

B. 2.00

C. 0.74

D. 0.61

E. 2.40

Answer rating: 100% (QA)

Correct Option D 061 Explanation Profit Before Tax 186000 L... View the full answer