3. Welldone Co. has 200,000 shares of common stock outstanding on January 1 . The companyhas 30,000...
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3. Welldone Co. has 200,000 shares of common stock outstanding on January 1 . The companyhas 30,000 shares of preferred stock outstanding, and the company paid the regular $2 per share dividend to the preferred stockholders. On July 1 of the current year, the company issued 100,000 shares of common stock. Net income for the year was $560,000. What is Welldone's earning per share (EPS)?
a. $1.50
b. $2.00
c. $3.00
d. $3.75
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