At December 31, 20X3, XYZ had 40,000 common shares issued and outstanding and 10,000 nonconvertible preferred...
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At December 31, 20X3, XYZ had 40,000 common shares issued and outstanding and 10,000 nonconvertible preferred shares issued and outstanding. XYZ's net income for the year ended December 31, 20X4, was $120,000. During 20X4, XYZ declared and paid $50,000 cash dividends on common and $8,000 cash dividends on the nonconvertible preferred (the annual requirement). There were no common share or preferred share transactions during the year. The earnings per common share for the year ended December 31, 20X4, should be: $2.80 $2.40 $3.00 $1.75 J At December 31, 20X3, XYZ had 40,000 common shares issued and outstanding and 10,000 nonconvertible preferred shares issued and outstanding. XYZ's net income for the year ended December 31, 20X4, was $120,000. During 20X4, XYZ declared and paid $50,000 cash dividends on common and $8,000 cash dividends on the nonconvertible preferred (the annual requirement). There were no common share or preferred share transactions during the year. The earnings per common share for the year ended December 31, 20X4, should be: $2.80 $2.40 $3.00 $1.75 J
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To calculate the earnings per common share for the year ended December 31 20X4 we need to determine ... View the full answer
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Posted Date:
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