On dec 312008 xyz corp had 600000 shares of common stock

Reference no: EM13598810

On dec 31.2008 xyz corp had 600000 shares of common stock and 300000 shares of 8% ,noncumulative,nonconvertible prreferd stock issued and outstanding.XYZ issued 4% common stock divident on May 15 and paid dividends of 400000 and 75000 to common and preferred shareholders ,respectively on dec.15.2009On feb 28,2009 xyz sold 60000 common shares.In keeping with its long term share repurchase plan, 2000 shares were retired on July 1. XYZ net income for the year ended Dec ,31,2009 was 2100000. The income tax rate is 40%.Compute XYZ earnings per share for the year ended Dec 31,2009.

Reference no: EM13598810

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