Novak Inc. presented the following data. Net income $2,680,000 Preferred stock: 48,000 shares outstanding, $100 par, 8% cumulati
ve, not convertible 4,800,000 Common stock: Shares outstanding 1/1 729,600 Issued for cash, 5/1 273,600 Acquired treasury stock for cash, 8/1 160,800 2-for-1 stock split, 10/1. Compute earnings per share.
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