17. Snapsort Corporation reports the following information: Net income Dividends on common stock Dividends on preferred stock $750,000 $210,000 $ 90,000 250,000 Weighted average common shares outstanding Snapsort should report earnings per share of a. $2.16. b. $2.64. c. $3.00. d. $1.80. 18. On June 1, Freedom Distributions (FD) shipped 100 TVs to Universal TV (UTV) on consignment. FD buys these TVs from their supplier for $600 each and sells them to UTV for $800. UTV then retails them for $1,200 each. By the end of June, Universal TV reported that they had sold 60 of these TVs and remitted the appropriate amount to FD. How much revenue should be recorded by FD in connection with this transaction? a. $60,000 b. $48,000 c. $36,000 d. $72,000 I 19. When a seller is exposed to measurement uncertainty in a revenue transaction due to potential sales returns, the seller should recognize revenue a. when the return period has expired. b. immediately, but record a liability for the estimated future returns. C. at the time of sale and account for returns as they occur. d. at the time of cash collection