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Flyaway Travel Company reported net income for 2021 in the amount of $101,000. During 2021, Flyaway declared and paid $3,225 in cash dividends on its
Flyaway Travel Company reported net income for 2021 in the amount of $101,000. During 2021, Flyaway declared and paid $3,225 in cash dividends on its nonconvertible preferred stock. Flyaway also paid $21,000 cash dividends on its common stock. Flyaway had 51,000 common shares outstanding from January 1 until 21,000 new shares were sold for cash on April 1, 2021. What is 2021 basic earnings per share? Multiple Choice $1.46. $1.51. None of these answer choices are correct. $1.36.
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