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Norman's Cabinet, Inc

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Norman's Cabinet, Inc., had net income of $213,400 for its fiscal year ended October 31, 2020.During the year, the company had outstanding 26,500 shares of 9%, $60 par value preferred stock, and 37,000 shares of common stock.Calculate the basic earnings per share of common stock for the 2020 fiscal year.


Definitions:

Par Value

The face value of a bond or stock, as stated on the certificate, which is the nominal value rather than the market value.

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