Solved: During 2011 cpa declared and paid 89000 in cash dividends, Accounting Basics

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During 2011 cpa declared and paid 89000 in cash dividends

Question - On December 31, 2010, the CPA Company had 100,000 shares of common stock issued and outstanding. On July 1, 2011, the company sold 20,000 additional shares for cash. CPA's net income for the year ended December 31, 2011 was $650,000. During 2011, CPA declared and paid $89,000 in cash dividends on its nonconvertible preferred stock. What is the 2011 basic earnings per share?

a. 5.91

b. 5.61

c. 5.10

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Accounting Basics: During 2011 cpa declared and paid 89000 in cash dividends

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Accounting Basics: During 2011 cpa declared and paid 89000 in cash dividends

Reference No:- TGS02872757

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