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During 2023, FDI reports profit of $250,000 and pays $70,000 in current-year preferred dividends. On January 1, 2023, the company had 25,000 outstanding common shares,
During 2023, FDI reports profit of $250,000 and pays $70,000 in current-year preferred dividends. On January 1, 2023, the company had 25,000 outstanding common shares, and it retired 5,000 shares on July 1, 2023. Is the 2023 earnings per share value (a) $8; (b) $9; or (c) $10?
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