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The Payne Corporation reported net income of $5,000,000 for the fiscal year ended December 31, 2018. Preferred stock dividends declared during the year were $500,000.
- The Payne Corporation reported net income of $5,000,000 for the fiscal year ended December 31, 2018. Preferred stock dividends declared during the year were $500,000. Payne had ten million shares of common stock outstanding at the beginning of the year, and issued an additional five million shares on May 31, 2018. What is Paynes basic EPS for 2018 (rounded)?
A. $0.39.
B. $0.43.
C. $0.64.
D. $0.30.
E. $0.35.
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
