Carter Industries Had Net Income of $250 000 for the Year

question 122

Short Answer

Carter Industries had net income of $250 000 for the year 2002.They had 50 000 shares of preferred stock and 200 000 shares of common stock outstanding.What is Carter Industries earnings per share?

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Definitions:

Accounts Payable

Liabilities representing amounts owed by a company to creditors for goods and services that have been purchased or received but not yet paid for.

Asset

An economic resource or a controlled item of value that an individual, corporation, or country owns or controls with the expectation that it will provide future benefit.

Revenues

The total income generated from normal business operations, including discounts and deductions for returned merchandise.

Cash Receipts

The collection of money, including cash, checks, and credit card payments, recorded by a business.