Getaway Travel Company Reported Net Income for 2016 in the Amount

question 177

Multiple Choice

Getaway Travel Company reported net income for 2016 in the amount of $50,000.During 2016,Getaway declared and paid $2,000 in cash dividends on its nonconvertible preferred stock.Getaway also paid $10,000 cash dividends on its common stock.Getaway had 40,000 common shares outstanding from January 1 until 10,000 new shares were sold for cash on July 1,2016.A 2-for-1 stock split was granted on July 5,2016.What is the 2016 basic earnings per share (rounded) ?

• A)$.42.
• B)$.47.
• C)$.53.
• D)$.56.

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