Question
Presented below is information related to Peterson Inc. for year of 2023 (1/1/2023-12/31/2023). Interest expenses $ 340,000 Income from operations of discontinued food department (pre-tax)
Presented below is information related to Peterson Inc. for year of 2023 (1/1/2023-12/31/2023).
Interest expenses | $ 340,000 |
Income from operations of discontinued food department (pre-tax) | 70,000 |
Net Sales | 3,520,000 |
Dividends-Common stock | 56,000 |
Selling and administrative expenses | 813,000 |
Interest revenues | 260,000 |
Retained earnings, 1/1 | 630,000 |
Loss on disposal of discontinued food department (pre-tax) | 120,000 |
Cost of goods sold | 1,780,000 |
Dividends-Preferred stock | 125,000 |
3. Assume that 140,000 shares of common stock were outstanding during the year. Calculate earnings per share based on the net income (round to two decimals). Show your work in addition to the answer.
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