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Calculate nap inc earnings per share

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Reference no: EM132900108

Problem 1: In 2021, Nap Inc. reported net income of $330,000, and did not declare any dividends. Nap Inc. has 11% cumulative preferred shares in the amount of $200,000 on its balance sheet. In the past, the company typically paid out $49,500 common dividends every year. During 2021, Nap Inc. had a weighted average of 190,000 common shares outstanding. Calculate Nap Inc.'s 2021 earnings per share.

a. $1.74
b. $1.48
c. $1.62
d. $1.36
e. $0.68

Reference no: EM132900108

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