Team Shirts Had Net Income of $23,000

question 101

Multiple Choice

Team Shirts had net income of $23,000.The balance sheet showed beginning and ending balances in shareholders' equity of $100,000 and $110,000,respectively.There were no preferred shares and 20,000 common shares outstanding throughout the year.Calculate earnings per share.

• A)$0.22
• B)$1.15
• C)$5.25
• D)$4.56

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Definitions:

Mood Disorder

A psychological condition characterized by the elevation or lowering of a person's mood, such as depression or bipolar disorder.

Depression

A mental health disorder characterized by persistently low mood, lack of interest in activities, and other symptoms that impair daily functioning.

Compulsions

Actions or thoughts repeatedly carried out by a person due to a compelling obsession.

Public Asylums

Institutions historically used for the care and confinement of individuals deemed mentally ill or otherwise societally undesirable.