Presented Below Are Selected Data from the Financial Statements of Wizard

question 184

Multiple Choice

Presented below are selected data from the financial statements of Wizard Corp. $$\begin{array} { l r r } & \underline { \mathbf { 2 0 1 8 } } & \underline { \mathbf { 2 0 1 7 } } \\\text { Net income } & \$ 150,000 & \$ 120,000 \\\text { Cash dividends paid on preferred stock } & \$ 15,000 & \$ 15,000 \\\text { Cash dividends paid on common stock } & \$ 42,000 & \$ 38,000 \\\text { Weighted average number of preferred shares outstanding } & 20,000 & 20,000 \\\text { Weighted average number of common shares outstanding } & 105,000 & 95,000\end{array}$$ Earnings per share is reported on the 2018 income statement as

• A)$1.08.
• B)$1.20.
• C)$1.29.
• D)$1.43.

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