Accu Tech Renovations Corp

question 34

Essay

Accu Tech Renovations Corp. (ATRC)was incorporated on January 1, 2021. At that time it issued 100,000 ordinary shares; 80,000, $20, 3% preferred shares "A"; and 40,000, $20, 6% preferred shares "B." Net income for the year ended December 31, 2021 was $1,800,000. ATRC declares and pays total of $238,000 in dividends. Both the preferred shares series A and B are non-cumulative in nature. Series A must be fully paid their current entitlement before any monies are paid to the Series B shareholders.
Required:
Compute basic EPS.

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Definitions:

Social Security Benefits

Government-provided payments to eligible individuals, typically retirees, disabled persons, and survivors, aimed at ensuring their financial support.

Retiree

An individual who has withdrawn from active working life, typically due to age.

Earned

Obtained or received as a result of effort or achievement.

Older People

Individuals who are advanced in age, often defined as being 65 years old or older.