The company had the following shares of stock outstanding during the year. Data regarding dividend privileges and
Question:
• Common shares outstanding: 320,000 for the entire year
• Participating preferred shares outstanding: 100,000 shares for the entire year • Net income: $1,000,000
• Dividends on participating preferred shares: $1.00 per share plus a per-share increase 80% as large as the per-share increase of common dividends above $0.50 per share
• Common dividends paid for the year: $1.00 per share
Compute basic earnings per share for both the common shares and the participating preferred shares.
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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