Reference no: EM132594946

The following account balances were taken from the accounting records of AMP Corporation for the year ended December 31, 2020:

Cash .................................................... $61,000
Cost of Goods Sold ...................................... $36,000
Accounts Payable ........................................ $24,000
Gain on Sale of Land .................................... $ 9,000
Retained Earnings ....................................... $14,000
Common stock, $5 par value, 10,000 shares outstanding ... $50,000
Wage Expense ............................................ $25,000
Sales Revenue ........................................... $87,000
Income Tax Expense ...................................... $ 6,000
Preferred stock, 8%, $20 par, 1,000 shares outstanding .. $20,000
Equipment ............................................... $89,000
Unearned Revenue ........................................ $13,000

Question 1: The earnings per share (EPS) reported by AMP Corporation for 2020 was equal to:

Group of answer choices

Option 1: $2.74

Option 2: $3.30

Option 3: $4.04

Option 4: $2.40

Option 5: $1.84

Option 6: $6.50

Option 7: $3.14

Option 8: $2.90

Option 9: none of the above choices are correct