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What should be waterway earnings per common share

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Question - Waterway Industries had 293000 shares of common stock issued and outstanding at December 31, 2020. During 2021, no additional common stock was issued. On January 1, 2021, Waterway issued 393000 shares of nonconvertible preferred stock. During 2021, Waterway declared and paid $172000 cash dividends on the common stock and $160000 on the nonconvertible preferred stock. Net income for the year ended December 31, 2021, was $955000. What should be Waterway's 2021 earnings per common share, rounded to the nearest penny?

Reference no: EM133007106

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