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Molp company earned net income of $324,000 during the year. It had 89,000 shares of 6%, $20 par noncumulative preferred stock outstanding for the entire
Molp company earned net income of $324,000 during the year. It had 89,000 shares of 6%, $20 par noncumulative preferred stock outstanding for the entire year. The company did not declare and pay a preferred dividend during the year. It had 100,000 shares of common stock outstanding throughout the year. Compute basic earnings per share for the year.
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