A Corporation Reported 19X1 Net Income of $156,000

question 98

Multiple Choice

A corporation reported 19X1 net income of $156,000. On January 1, 19X1, 60,000 shares of common stock were outstanding. An additional 10,000 shares were sold and issued on April 1 and, 5,000 shares were purchased and retired on October 1. Earnings per share (rounded to the nearest cent) are:

• A) $2.32.
• B) $2.35.
• C) $2.40.
• D) $2.60.

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Definitions:

Light Adaptation

The process by which the eye adjusts its sensitivity to the brightness of the environment, enabling it to see in conditions ranging from bright sunlight to dim light.

Dark Adaptation

The process by which the eyes become more sensitive to low levels of light after being in a higher light level environment.

Afterimage

A visual illusion in which a retinal impression persists after the removal of a stimulus, often seen with contrasting colors or intense lights.

Place Theory

A theory in psychology and philosophy that suggests physical location and environment play a significant role in how individuals perceive and interact with the world around them.