Cash dividends on preferred stock

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Reference no: EM13126885

The income statement for Roland Inc. shows income before income taxes $700,000, income tax expenses $210,000, and net income $490,000. If Roland declared $150,000 of cash dividends on preferred stock and has 100,000 shares of common stock outstanding throughout the year, earnings per share is:

a. $5.50

b. $3.40

c. $1.5

d. $0.60

Reference no: EM13126885

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