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6. Sims Company reported net income for 2021 in the amount of $50,000. During 2021, Sims declared and paid $2,000 in cash dividends on its
6. Sims Company reported net income for 2021 in the amount of $50,000. During 2021, Sims declared and paid $2,000 in cash dividends on its nonconvertible preferred stock. Sims also paid $10,000 cash dividends on its common stock. Sims had 40,000 common shares outstanding from January 1 until 10,000 new shares were sold for cash on July 1, 2021. A 2-for-1 stock split was granted on July 5, 2021. What is the 2021 basic earnings per share2 (Round final answers to 2 decimal places.) A. S0.42 B. $0.47. C. $0.56 D.$0.53
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