Question 7 1 pts Which of the following statements is TRUE? Net Income represents the change in owners' equity due to the operating and non-operating activities that have occurred over the company's lifetime. O Net Income is the best number to use when trying to predict the future profits of EPS (Earnings per share) is a required disclosure on the face of the Income Statement. EPS is the amount that each shareholder will receive as dividends during the Question 8 1 pts ABC Company had 120,o00 shares of common stock outstanding on on January 1, 2017 and issued an additional 30,00O shares on November 1 2017. Determine EPS if net income is equal to $500,000. $4.08 per share $4.00 per share $6.67 per share $3.46 per share Question9 1 pts ABC Company has 20,0o0 shares of common stock outstanding and 5,0oO shares of $.50 par value, 5% preferred stock outstanding. Determine EPS for common stock if net income-$200.ooo. $9.38 per share $10,00 per share $8.00 per share $7.50 per share Question 10 1 pts ABC Company had 60,O00 shares of common stock oustanding on January 1, 2017 and repurchased 12,000 shares on April 30, 2017. Determine EPS is net income $300,000 $5.77 per share $10.71 per share $6.25 per share $5.88 per share