The Income Statement of Faster Computers,Inc

question 35

Essay

The income statement of Faster Computers,Inc.showed the following information on December 31,2014.

Compute earnings per share figures for common stock under the assumption that Faster Computer Inc.has
(1)320,000 shares of $24 par value common stock outstanding.
(2)9,600 shares of $100,par 8% cumulative preferred stock,and 240,000 shares of no-par common stock.Dividends are not in arrears.
Note: Assumption (1)is independent of (2).

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Definitions:

Contact Precautions

Precautions taken to prevent the possibility of illnesses easily transmitted by direct contact.

Intramuscular Injection

A method of administering medication deep into the muscles, allowing for faster absorption than subcutaneous injections.

Aspirating

The act of drawing in or out using a sucking motion, specifically referring to the withdrawal of fluid or air from the body, often using a syringe or similar device.

Syringe Barrel

A component of a syringe that holds the fluid to be injected or drawn up, typically calibrated for measuring doses.