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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 issued during the year was 69,500. The corporation also held 10,000 shares of its common stock as treasury stock for the entire year. What is earnings per share?  

a)            Earnings per share is $5.84  

b)            Earnings per share is $1.00.  

c)            Earnings per share is $4.37.  

d)            Earnings per share is $5.00.  


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