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Sand Dune Corp. earned net income of $78,800 and paid the minimum dividend to preferred stockholders for 2024. Assume that there are no changes in
Sand Dune Corp. earned net income of $78,800 and paid the minimum dividend to preferred stockholders for 2024. Assume that there are no changes in common shares outstanding during 2024. Sand Dune's books include the following figures: (Click the icon to view the figures.) Read the requirements. Requirement 1. Compute Sand Dune's EPS for the year. Select the formula, then enter the amounts to calculate the company's earnings per share for 2024. (Abbreviations used: Ave. = average, OS = outstanding, SE = stockholders' equity, shrs = shares. Enter the earnings per share to the nearest cent.) Requirements 1. Compute Sand Dune's EPS (Earnings Per Share) for the year. 2. Assume Sand Dune's market price of a share of common stock is $6 per share. Compute Sand Dune's price/earnings ratio. Data table Preferred Stock-2\%, $40 par value; 2,000 shares authorized, 1,000 shares issued and outstanding Common Stock- $1 par value; 130,000 shares authorized, 54,000 shares issued, 52,000 shares outstanding Paid-In Capital in Excess of Par-Common Treasury Stock-Common; 2,000 shares at cost (40,000)
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