Determine the basic earnings per share for PickApart Arts

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Question - PickApart Arts, Inc., had earnings of $382,800 for the year. The company had 53,000 shares of common stock outstanding during the year and issued 3,300 shares of $100 par value preferred stock. The preferred stock has a dividend of $10 per share. There were no transactions in either common or preferred stock during the year. Determine the basic earnings per share for PickApart Arts for the year.

Reference no: EM133060700

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