A company reports the following: Net income $508,490 Preferred dividends $37,670 Shares of common stock outstanding 59,000 Market price per share of common stock $23.14 Calculate the company's earnings per share on common stock. Round your answer to the nearest cent.

A company reports the following: Net income $508,490 Preferred dividends $37,670 Shares of common stock outstanding 59,000 Market price per share of common stock $23.14 Calculate the company's earnings per share on common stock. Round your answer to the nearest cent.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 21EB: Brunleigh Corporation earned net income of $200,000 this year. The company began the year with...

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Question

A company reports the following:
Net income
$508,490
Preferred dividends
$37,670
Shares of common stock outstanding
59,000
Market price per share of common stock
$23.14
Calculate the company's earnings per share on common stock. Round your answer to the nearest cent.

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