Hardaway Fixtures balance sheet at December 31, 2020, included the following: Shares issued and outstanding: Common stock,

Question:

Hardaway Fixtures’ balance sheet at December 31, 2020, included the following:

Shares issued and outstanding:
Common stock, $1 par $ 800,000
Nonconvertible preferred stock, $50 par 20,000

On July 21, 2021, Hardaway issued a 25% stock dividend on its common stock. On December 12, it paid $50,000
cash dividends on the preferred stock. Net income for the year ended December 31, 2021, was $2,000,000.

Required:
Compute Hardaway’s earnings per share for the year ended December 31, 2021.

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... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...

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