Solved: During 2016 washington declared and paid preferred, Accounting Basics

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During 2016 washington declared and paid preferred

Question - Washington Enterprises had net income for 2016 of$103,000. Washington had39,000 shares of common stock outstanding at the beginning of the year and43,000 shares of common stock outstanding at the end of the year. There were 6,000 shares of preferred stock outstanding all year. During 2016, Washington declared and paid preferred dividends of $29,000. What is Washington's earnings per share? (Round the answer to two decimal places.)

A. $1.72

B. $2.51

C. $1.80

D. $2.40

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