Robertson Corporation Reported Net Income for Year 1 of $220,000

question 73

Multiple Choice

Robertson Corporation reported net income for Year 1 of $220,000 and Year 2 of $340,000. The weighted-average common shares outstanding 140,000 in Year 1 and 130,000 in Year 2. Robertson also has 10,000 shares of $100 par value, cumulative, 5% preferred stock outstanding in both years. Dividends were not declared in Year 1, but both years' dividends were declared and paid in Year 2. Compute EPS for both years. (Round your answers to the nearest cent.)

• A) Year 1, $1.21; Year 2, $1.21
• B) Year 1, $1.21; Year 2, $2.23
• C) Year 1, $1.21; Year 2, $2.62
• D) Year 1, $1.57; Year 2, $2.62

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Definitions:

Personality

An individual's characteristic patterns of thinking, feeling, and behaving.

Mature

Showing the mental, emotional, or physical characteristics associated with a fully developed person; exhibiting full development in body or mind.

L-Data Technique

A methodological approach in psychology that involves using life record data, such as school records or survey responses, to assess personality.

Real-Life Settings

Environments or situations that occur in the natural, everyday world, outside of controlled or artificial experimental conditions.