During the Current Year, a Corporation Has 2,000 Shares of 10

question 44

Multiple Choice

During the current year, a corporation has 2,000 shares of 10%, $50 par, cumulative preferred stock outstanding and 6,000 shares of $10 par common stock outstanding. The company has net income of $53,000 and paid all preferred dividends as usual. Compute earnings per share. Round all amounts to nearest cent.

• A) $7.17
• B) $8.83
• C) $5.38
• D) $6.63

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