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tresset_1 [31]
3 years ago
11

In 2017, Oriole Corporation reported net income of $1,004,700. It declared and paid preferred stock dividends of $278,600. Durin

g 2017, Oriole had a weighted average of 200,700 common shares outstanding. Compute Oriole’s 2017 earnings per share.
Business
1 answer:
nexus9112 [7]3 years ago
4 0

Answer:

$3.62

Explanation:

The dividend distributed to common share = total net income - dividend for preferred stock

=  $1,004,700 -  $278,600

=  $726,100

Earnings per share (EPS) = The dividend distributed to common share / common shares outstanding

= $726,100/ 200700

= $3.62

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