Tennyson Loan Company's balance sheet reports the following: Preferred stock, $50 par value, 6%, 10,000 shares issued

Question:

Tennyson Loan Company's reports the following:
Preferred stock, $50 par value, 6%, 10,000 shares issued ............ $500,000
Common stock, $0.50 par, 1,200,000 shares issued..................... 600,000
Treasury stock, common, 100,000 shares at cost ......................... 800,000
During 20X7 Tennyson earned net income of $5,800,000. Compute Tennyson's EPS for 20X7.
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...