For Last Year, Roxy Corporation Reported Profit of $500,000, and Paid

question 43

Multiple Choice

For last year, Roxy Corporation reported profit of $500,000, and paid $125,000 in dividends to the 250,000 preferred shares issued.The weighted average of common shares was 1,500,000 shares.Roxy's earnings per share was

• A)$0.33.
• B)$0.29.
• C)$0.25.
• D)$0.21.

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Definitions:

Tenant

A tenant is an individual or entity that occupies land or property rented from a landlord under a lease agreement.

Adjusting Entry

An accounting record made to update the financial position of a company before financial statements are prepared.

Fiscal Period

A specific duration of time for which a business or government reports its financial performance, could be a quarter, a year, or any other defined period.

Salaries

Payments made to employees typically on a monthly or biweekly basis for their work or services.