Beagle Company earned $90,000 in income and paid cash dividends of $7,000 to preferred shareholders during the current year. Beagle had 15,500 weighted-average shares of common stock outstanding for the year. Calculate the company's earnings per share.
What will be an ideal response?
Earnings per Share = Net Income - Preferred Dividends/Weighted-Average Common Shares Outstanding
Earnings per Share = ($90,000 - $7,000)/15,500 shares = $5.35
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