Denfort corp had 4,000 shares of P7.00, P100 par preferred stock and 50,000 shares of common stock outstanding throughout 2018. During 2018, it declared a dividend of P7.00 per share on its common stock. Compute earnings per share for 2018 if its income statement showed net income of 630,000.

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 18E: Monona Company reported net income of 29,975 for 2019. During all of 2019, Monona had 1,000 shares...
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Denfort corp had 4,000 shares of P7.00, P100 par preferred stock and 50,000 shares of common
stock outstanding throughout 2018.
During 2018, it declared a dividend of P7.00 per share on its common stock.
Compute earnings per share for 2018 if its income statement showed net income of 630,000.
Transcribed Image Text:Denfort corp had 4,000 shares of P7.00, P100 par preferred stock and 50,000 shares of common stock outstanding throughout 2018. During 2018, it declared a dividend of P7.00 per share on its common stock. Compute earnings per share for 2018 if its income statement showed net income of 630,000.
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