Jennings Corporation's Net Income for the Current Year Was $270,000

question 31

Multiple Choice

Jennings Corporation's net income for the current year was $270,000. The corporation had outstanding 5,000 shares of 10%, $100 par value nonconvertible preferred stock and 10,000 shares of $20 par value common stock. No shares were issued or retired during the year. The amount of income to be used in the basic calculation of earnings per share is:

• A)$245,000.
• B)$220,000.
• C)$350,000.
• D)$285,000.

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Definitions:

External Stressor

An outside factor or situation that causes stress or pressure, impacting an individual's emotional or physical well-being.

Albert Ellis

A psychologist and psychotherapist known for developing Rational Emotive Behavior Therapy (REBT), emphasizing the role of beliefs in emotional and behavioral distress.

ABC Approach

A strategy in inventory management that categorizes items into three classes (A, B, and C) based on their importance and value.

Folk Wisdom

Traditional beliefs, customs, sayings, and knowledge passed down through generations, often based on common sense or experiences.