Solved: Net income was 329550 for the year throughout the year the, Accounting Basics

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Net income was 329550 for the year throughout the year the

Net income was $329,550 for the year. Throughout the year the company had outstanding 18,000 shares of $2.50, $50 par value preferred stock and 105,000 shares of common stock.

Required:
Calculate basic earnings per share of common stock for the year.

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Accounting Basics: Net income was 329550 for the year throughout the year the

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