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(12 of 42) At January 1, G Co. had 50,000 shares of common stock and 5,000 shares of 5%, $100 par value preferred stock outstanding.

(12 of 42) At January 1, G Co. had 50,000 shares of common stock and 5,000 shares of 5%, $100 par value preferred stock outstanding. Net income for the year was $500,000. Basic earnings per common share is: $5.00 $9.50 $9.00 $10.00

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