Merit Grafixx Inc. has net income of $300,000, av- erage shares of common stock outstanding of 50,000,
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Merit Grafixx Inc. has net income of $300,000, av- erage shares of common stock outstanding of 50,000, and preferred dividends for the period of $40,000. What is Merit's earnings per share of common stock? Eric Roskopf, the president of Merit Grafixx, believes that the computed EPS of the company is high. Com- ment.
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