Prestige Loan Company's balance sheet at December 31, 2016, reports the following: Preferred stock, $50 par value,

Question:

Prestige Loan Company's at December 31, 2016, reports the following:
Preferred stock, $50 par value, 10%, 10,000 shares issued..............$ 500,000
Common stock, $0.75 par, 1,000,000 shares issued........................750,000
Treasury stock, common, 80,000 shares at cost.............................720,000
During 2016, Prestige Loan earned net income of $6,300,000. Compute Prestige Loan's earnings per common share (EPS) for 2016. (Round EPS to two decimal places.) Assume the number of shares issued and outstanding did not change during the year.
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...