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Calculate earnings per share for the year ended December

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Question - At December 31, 2020 and 2021, Funk & Noble Corporation had outstanding 880 million shares of common stock and 10 million shares of 4%, $100 par value cumulative preferred stock. No dividends were declared on either the preferred or common stock in 2020 or 2021. Net income for 2021 was $1,184 million. The income tax rate is 25%.

Calculate earnings per share for the year ended December 31, 2021.

Reference no: EM132436264

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