Exercise 16-18

Coronado Inc. presented the following data.

Net income$2,340,000Preferred stock:53,000shares outstanding,$100 par,8% cumulative, not convertible5,300,000Common stock: Shares outstanding 1/1692,400Issued for cash, 5/1321,600Acquired treasury stock for cash, 8/1160,8002-for-1 stock split, 10/1

Compute earnings per share.(Round answer to 2 decimal places, e.g. $2.55.)

Exercise 16-18 Coronado Inc. presented the following data. Net income $2,340,000 Preferred stock: 53,000 shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 5,300,000 692,400 Issued for cash, 5/1 321,600 Acquired treasury stock for cash, 8/1 160,800 2-for-1 stock split, 10/1 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) $ Earnings per share