Question
The following information was gathered for Trio Company for the fiscal year ended 12/31/09: On 1/1/09, shares authorized amounted to 1,000,000 shares On 1/1/09, shares
The following information was gathered for Trio Company for the fiscal year ended 12/31/09: On 1/1/09, shares authorized amounted to 1,000,000 shares On 1/1/09, shares issued amounted to 550,000 shares On 1/1/09, shares outstanding amounted to 500,000 shares On 4/1/09, additional shares issued amounted to 200,000 shares Trio Company paid preferred stock dividends of $50,000 and paid common stock dividends of $100,000. Trio has no dilutive securities in its capital structure and earned $250,000 of net income for the year ended 12/31/09. Trio Companys earnings per share (for 2009) is closest to:
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