FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:A company had 20,000 shares of common stock outstanding on January 1, 2021. In October, 110,000 shares of
non-cumulative preferred stock were issued as a stock dividend. No cash dividends were paid or declared in
2021 and 2021 net income was $450,000. Earnings per share (rounded to the nearest cent):
Multiple Choice
$15.00.
$22.50.
$20.00.
$30.00.
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