Question
Brielle Financial Services reports on its balance sheets at the end of each of the first two years of operations the following: 2006 2005 Total
Brielle Financial Services reports on its balance sheets at the end of each of the first two years of operations the following:
| 2006 | 2005 |
Total current assets | $600,000 | $560,000 |
Total investments | 60,000 | 40,000 |
Total property, plant, and equipment | 900,000 | 700,000 |
Total current liabilities | 150,000 | 80,000 |
Total long-term liabilities | 350,000 | 250,000 |
Preferred 9% stock, $100 par | 100,000 | 100,000 |
Common stock, $10 par | 600,000 | 600,000 |
Paid-in capital in excess of par-common stock | 60,000 | 60,000 |
Retained earnings | 325,000 | 210,000 |
If net income is $115,000 and interest expense is $30,000 for 2006, what are the earnings per share on common stock for 2006, (round to two decimal places)?
Question options:
$1.92 | |
$1.89 | |
$1.77 | |
$1.42 |
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