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Question(s) / Instruction(s):

A corporation reports net income of $150,000 for 2006. The corporation had 10,000 shares of cumulative, 10% $50 preferred stock and 75,000 shares of $10 par common stock for all of 2006. What is earnings per share?  

a)            Earnings per share is $13.33.  

b)            Earnings per share is $2.00.  

c)            Earnings per share is $1.33.  

d)            Earnings per share is $1.20.  

 

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