Compute earnings per share for 2012

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Assume that Chang Corp. earned net income of $3,335,000 during 2012. In addition, it had 104,000 shares of 9%, $100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2012. Compute earnings per share for 2012, using the weighted-average number of shares determined in part (a).

Reference no: EM13127333

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