Gwinnett Park Co

question 14

Essay

Gwinnett Park Co. reported net income of $253,300 for its fiscal year ended September 30, 2017. At the beginning of that year, 150,000 shares of common stock were outstanding. On February 1, 2017, an additional 30,000 shares were issues. On September 1, 2017, 12,000 shares were purchased as treasury stock. During the year, the company paid the annual dividend on 7,000 shares of its 8%, $60 par value preferred stock that were outstanding during the entire fiscal year. Calculate the basic earnings per share of common stock for the year ended September 30, 2017.

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Definitions:

Pancreas

An organ in the digestive system that produces enzymes and hormones, including insulin, to aid in digestion and regulate blood sugar.

Plasma Calcium Levels

The concentration of calcium in the plasma portion of the blood, important for various bodily functions including bone formation and muscle contraction.

Amnesia

A condition characterized by memory loss that can be caused by brain injury, disease, or psychological trauma.

Analgesia

The inability to feel pain, often achieved through the use of medications.