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Compute the amount of earnings per share

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Reference no: EM132421130

The Net Income of XX company is amounted to $1,920,000 for the current year.

a. Compute the amount of earnings per share assuming that the shares of capital stock outstanding throughout the year consist of:

  1. 400,000 shares of $1 par value common stock and no preferred stock.
  2. 100,000 shares of 8 percent, $100 par value preferred stock and 300,000 shares of $5 par value common stock.

b. Is the earnings per share figure in part a2 considered to be basic or diluted? Explain.

Reference no: EM132421130

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