Padowski Corporation's Net Income for the Current Year Is $500,000

question 44

Multiple Choice

Padowski Corporation's net income for the current year is $500,000.At year end,the corporation had outstanding 4,500 shares of 15%,$100 par value nonconvertible preferred stock and 15,000 shares of $10 par value common stock.No shares were issued or retired during the year.What is basic earnings per share?

• A)$22.18
• B)$25.64
• C)$28.83
• D)$33.33

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Definitions:

Square Root

A quantity which, when squared, returns the original number.

Rationalize Denominator

The process of eliminating radicals or complex numbers from the denominator of an algebraic fraction by multiplying both the numerator and the denominator by a suitable value.

Cube Root

The value that when multiplied by itself three times gives the original number.

Square Root

The original number that is obtained by squaring a certain value.