Saha Company Had Profit of $1,020,000 for the Year Ended

question 91

Essay

Saha Company had profit of $1,020,000 for the year ended December 31, 2014. At the beginning of the year, there were 300,000 common shares authorized, and 47,000 shares issued. In addition, during 2014, the company declared a dividend of $7 per share on its 10,000 preferred shares and issued 50,000 common shares on October 1.
Instructions
Calculate earnings per share for the year ended December 31, 2014.

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Definitions:

Reconstruction

The period following the Civil War from 1865 to 1877 in the United States, aimed at rebuilding the South and integrating freed slaves into society.

Constitutional Amendment

A modification or change to the Constitution, which is the supreme law of the land, requiring a rigorous process for adoption that often reflects significant shifts in societal values or governance.

Freedmen

Enslaved individuals who were emancipated, especially after the American Civil War, and their descendants.

Equality

A principle that emphasizes that all people should be treated as equals in rights, opportunities, and status.