Compute earnings per share for 2021

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Reference no: EM132918147

Question

Assume that Sage Corp. earned net income of $3,476,000 during 2021.

In addition, it had 99,000 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 2021. Compute earnings per share for 2021, using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, e.g. $2.55.)

Reference no: EM132918147

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