Question
National Corporation was organized on January 1 and issued 640,000 shares of common stock on that date. On July 1, an additional 240,000 shares were
National Corporation was organized on January 1 and issued 640,000 shares of common stock on that date. On July 1, an additional 240,000 shares were issued for cash. Net income for the year was $3,715,000. Net earnings per share amounted to:
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$4.89.
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$8.44.
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$4.22.
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$5.80.
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Audit Guide Audit Sampling
Authors: AICPA
2nd Edition
195068833X, 978-1950688333
