At December 31, 2011 and 2010, Lapham Corp

question 25

Multiple Choice

At December 31, 2011 and 2010, Lapham Corp. had 200,000 shares of common stock and 20,000 shares of 5 percent, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2010 or 2011. Net income for 2011 was $1,000,000. For 2011, basic earnings per common share amounted to

• A) $5.00.
• B) $4.75.
• C) $4.50.
• D) $4.00.

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Definitions:

Vitamin C

is an essential nutrient, known scientifically as ascorbic acid, important for the repair of tissues, enzyme function, and the immune system.

Episiotomy

A surgical incision made in the perineum—the area between the anus and the vulva—to widen the vaginal opening for childbirth.

Delivery Process

The sequence of events that lead to the birth of a baby, often encompassing labor, contractions, and the actual passage of the baby through the birth canal.

Contractions

Muscle tightenings that facilitate childbirth, also used to refer to abbreviations in language.