George Manufacturing Had Net Income of $150,000 and Declared Preferred

question 61

Multiple Choice

George Manufacturing had net income of $150,000 and declared preferred dividends of $10,000 during the current year. George began the year with 11,000 common shares outstanding. It issued 60,000 shares on June 30 and repurchased 6,000 of the newly issued shares on November 1. Compute George's basic EPS for the year. (Round your answer to the nearest cent.)

• A) $3.75
• B) $12.73
• C) $3.50
• D) $3.41

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Definitions:

Socioeconomic Class

A division of society based on social and economic status, often influencing an individual's opportunities and life experiences.

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Polysubstance Disorder

A condition characterized by the misuse of multiple substances or drugs, either simultaneously or at different times.