Unique corp. had 50,000 shares of $5 preferred stock, $100 par, and 100,000 shares of $1 par common stock outstanding throughout

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3 years ago

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Unique corp. had 50,000 shares of $5 preferred stock, $100 par, and 100,000 shares of $1 par common stock outstanding throughout

the year. net income for the year was $780,000, and unique declared and distributed a cash dividend of $1 per share on its common stock. earnings per share amounted to

Business

1 answer:

goldenfox [79] · Answer 1 · 2022-01-25T19:27:53+03:00

goldenfox [79]3 years ago

5 0

50,000 x 5 = $250,000 Preferred Dividends
(780,000 - 250,000) / 100,000 =
b.$5.30