At December 31, 2017 and 2018, Funk Noble Corporation had outstanding 820 million shares of common stock and 2 million shares of 8 , $100 par value cumulative preferred stock No dividends were declared on either the preferred or common stock in 2017 or 2018 Net income for 2018 was $426 million The ...

Amounts in millions except per share amount net preferred income dividends Earning ...

At December 31, 2017 and 2018, Funk & Noble Corporation had outstanding 820 million shares of common

Question:

At December 31, 2017 and 2018, Funk & Noble had outstanding 820 million shares of and 2 million shares of 8%, $100 cumulative preferred stock. No dividends were declared on either the preferred or in 2017 or 2018. Net income for 2018 was $426 million. The income tax rate is 40%. Calculate earnings per share for the year ended December 31, 2018.
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...