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What should be swifty earnings per common share

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Problem 1: Swifty Corporation had 291000 shares of common stock issued and outstanding at December 31, 2020. During 2021, no additional common stock was issued. On January 1, 2021, Swifty issued 402000 shares of nonconvertible preferred stock. During 2021, Swifty declared and paid $ 186000 cash dividends on the common stock and $ 149000 on the nonconvertible preferred stock. Net income for the year ended December 31, 2021, was $ 952000. What should be Swifty's 2021 earnings per common share, rounded to the nearest penny?

a. $ 3.27
b. $ 2.76
c. $ 2.12
d. $ 1.21

Reference no: EM132982539

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