Reference no: EM13827191
Submarine Corp., earned a net income of $110,000 for 2011. Submarine's books included the following figures:
Preferred stock, 2%, $30 par, 1,000 shares issued and outstanding - $30,000
Common stock, $1 par, 52,000 issued - $52,000
Paird-in capital in excess of par-common - $450,000
Treasury stock, common, 2,000 at cost - $40,000
Requirement:
1. Compute Submarine's EPS for the year.
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