Question
Please help with the math for the following: The balance sheets at the end of each of the first two years of operations indicate the
Please help with the math for the following: The balance sheets at the end of each of the first two years of operations indicate the following: 2016 2015 Total current assets $600,000 $560,000 Total investments 60,000 40,000 Total property, plant, and equipment 900,000 700,000 Total current liabilities 150,000 80,000 Total long-term liabilities. 350,000 250,000 Preferred 9% stock, $100 par 100,000 100,000 Common stock, $10 par 600,000 600,000 Paid-in capital in excess of par 60,000 60,000 Retired Earnings 325,000 210,000 Based on the above information, if net income is $130,000 and interest expense ism $40,000 for 2016, what are the earnings per share on common stock for 2016 (round to two decimal places)?
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