At December 31, 2020 and 2021, Funk & Noble Corporation had outstanding 1,000 million shares of common stock and 13 million shares of 4%, $100 par value cumulative preferred stock. No dividends were declared on either the preferred or common stock in 2020 or 2021. Net income for 2021 was $1,652 million. The income tax rate is 25%. Calculate earnings per share for the year ended December 31, 2021. (Round your answer to 2 decimal places.) Earnings per share

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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At December 31, 2020 and 2021, Funk & Noble Corporation had outstanding 1,000 million shares of common stock and 13 million
shares of 4%, $100 par value cumulative preferred stock. No dividends were declared on either the preferred or common stock in
2020 or 2021. Net income for 2021 was $1,652 million. The income tax rate is 25%.
Calculate earnings per share for the year ended December 31, 2021. (Round your answer to 2 decimal places.)
Earmings per share
Transcribed Image Text:At December 31, 2020 and 2021, Funk & Noble Corporation had outstanding 1,000 million shares of common stock and 13 million shares of 4%, $100 par value cumulative preferred stock. No dividends were declared on either the preferred or common stock in 2020 or 2021. Net income for 2021 was $1,652 million. The income tax rate is 25%. Calculate earnings per share for the year ended December 31, 2021. (Round your answer to 2 decimal places.) Earmings per share
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