Morgan Company Reported the Following Information for the Year Ended

question 100

Multiple Choice

Morgan Company reported the following information for the year ended December 31, 2015: Net income $ 600,000
Preferred dividends declared and paid 60,000
Common dividends declared and paid 90,000
Average common shares outstanding 90,000 Ending market price per share 45
Net sales 5,100,000
What was Morgan's earnings per share for 2015?

• A) $6.67
• B) $6.00
• C) $5.11
• D) $0.15

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Definitions:

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they are available to all members of society and one person's consumption does not reduce availability for others.

Public Good

A good or service offered to every member of a society for free, supplied by either government entities or private individuals or groups, without seeking financial gain.

Collective Willingness

The aggregate propensity of a group to invest in goods, services, or actions that benefit the community or society as a whole.

Public Good

This refers to goods or services made available to all societal members at no cost, delivered by the government or private sectors, with no intent of making a profit.