Exercise 16-18

Oriole Inc. presented the following data.

Net income

$2,530,000Preferred stock:47,000shares outstanding,$100 par,8% cumulative, not convertible

4,700,000Common stock: Shares outstanding 1/1

777,600Issued for cash, 5/1

308,400Acquired treasury stock for cash, 8/1

146,4002-for-1 stock split, 10/1

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

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Exercise 16-18 Oriole Inc. presented the following data. Net income $2,530,000 Preferred stock: 47,000 shares outstanding, $100 par, 3% cumulative, not convertible 4,700,000 Common stock: Shares outstanding 1/1 777,600 Issued for cash, 5/1 303,400 Acquired treasury stock for cash, 8/1 146,400 2for1 stock split, 10/1 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share 55 Click if you would like to Show Work for this question: Open Show Work I'lluI! Tn TIZYT