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What should be hyde basic earnings per share

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Reference no: EM132889592

Problem - Hyde Corporation's capital structure at December 31, 2018, was as follows:

Shares Issued and Outstanding

Common stock 100,000

Nonconvertible preferred stock 20,000

On July 2, 2019, Hyde issued a 10% stock dividend on its common stock and paid a cash dividend of $2.00 per share on its preferred stock. Net income for the year ended December 31, 2019, was $780,000. What should be Hyde's 2019 basic earnings per share?

Reference no: EM132889592

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