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Mccoy corporation has outstanding at december

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1. McCoy Corporation has outstanding at December 31, 2010, 50,000 shares of $20 par value, cumulative, 8% preferred stock and 200,000 shares of $5 par value common stock. All shares were outstanding the entire year. During 2010, McCoy earned total revenues of $2,000,000 and incurred total expenses (except income taxes) of $1,200,000. McCoy's income tax rate is 30%.

Instructions

Compute McCoy's 2010 earnings per share.

Reference no: EM131134529

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