On January 1, a corporation had 15,380 shares of common stock outstanding. On August 1, it sold an additional 5,000 shares. During the year, dividends of $4,800 and $56,000 were declared and paid on the common and preferred stock, respectively. Net income for the year was $250,000. What was the basic earnings per share for the year (rounded to the nearest cent)?
A) $16.26
B) $14.32
C) $11.11
D) $10.83
C
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A coupon for $3.00 off on a package of six golf balls placed on a golf club cover is a:
A) response offer coupon B) cross-ruffing coupon C) premium D) bonus offer
Suppose a bank earned $173 million in interest on its assets of $2,153 million, it paid out $81 million in interest on its liabilities (excluding capital) of $2,007 million, and it paid its workers $71 million in total compensation. The bank's return on equity is approximately
A. 12 percent. B. 14 percent. C. 16 percent. D. 18 percent.
Which one of the following is not one of the three activities included in the definition of accounting?
a. Communicating b. Identifying c. Measuring d. Operating
If there is no change in the number of shares authorized and issued from one year to the next, but there is a change in the number of shares outstanding on those same dates, how would you explain that change?