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Question(s) / Instruction(s):

A corporation has net income of $365,000 for the current year. It paid its required preferred dividend of $17,500 and had no other stock transactions during the year. The average number of common shares outstanding during the year was 69,500. What is earnings per share?  

a)            Earnings per share is $5.84.  

b)            Earnings per share is $5.00.  

c)            Earnings per share is $4.37.  

d)            Earnings per share is $1.00.  

 

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