Accu Tech Renovations Corp

question 69

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 cumulative in nature. Series A must be fully paid their current entitlement as well as any arrears before any monies are paid to the Series B shareholders.
Required:
Compute basic EPS.

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Definitions:

Volunteer Bias

The potential distortion in research results due to the characteristics of individuals who willingly choose to participate in studies.

Artificial Environment

An environment created by human beings as opposed to natural settings, often designed for specific purposes or research.

Privileged

Having special rights, advantages, or immunities not commonly accessible to all, often based on social, economic, or legal status.

Ethnic Minorities

Groups within a larger community that have different national, tribal, religious, linguistic, or cultural origins than the majority population.