Question
As of December 31, 2015, the Frisbee Company had 250,000 shares of common stock issued and outstanding. On March 31, 2016, the company sold an
As of December 31, 2015, the Frisbee Company had 250,000 shares of common stock issued and outstanding. On March 31, 2016, the company sold an additional 50,000 shares for cash. Frisbee's net income for the year ended December 31, 2016 was $700,000. During 2016, Frisbee declared and paid $80,000 in cash dividends on its nonconvertible preferred stock.
What is 2016 basic earnings per share (rounded)?
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Intermediate Accounting Reporting and Analysis
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
2nd edition
9781305727557, 1285453824, 9781337116619, 130572755X, 978-1285453828
