Sheridan Inc. presented the following data. Net income $2,672,150 Preferred stock: 55,000 shares outstanding, $100 par,...

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Sheridan Inc. presented the following data. Net income $2,672,150 Preferred stock: 55,000 shares outstanding, $100 par, 8% cumulative, not convertible 5,500,000 Common stock: Shares outstanding 1/1 822,000 Issued for cash, 5/1 324,000 Acquired treasury stock for cash, 8/1 162,000 2-for-1 stock split, 10/1 Compute earnings per share. (Round answer to 2 decimal places, e.g. 2.55.) Earnings per share $ Sheridan Inc. presented the following data. Net income $2,672,150 Preferred stock: 55,000 shares outstanding, $100 par, 8% cumulative, not convertible 5,500,000 Common stock: Shares outstanding 1/1 822,000 Issued for cash, 5/1 324,000 Acquired treasury stock for cash, 8/1 162,000 2-for-1 stock split, 10/1 Compute earnings per share. (Round answer to 2 decimal places, e.g. 2.55.) Earnings per share $

Answer rating: 100% (QA)

To compute earnings per share EPS we need to consider the weighted average number of common shares o... View the full answer