Ringemup, Inc., had net income of $473,400 for its fiscal year ended October 31, 2010. During the year the company had outstanding 38,000 shares of $4.50, $50 par value preferred stock, and 105,000 shares of common stock.
Calculate the basic earnings per share of common stock for fiscal 2010. (Round your answer to 2 decimal places).
Earnings per share: _________© BrainMass Inc. brainmass.com June 4, 2020, 1:02 am ad1c9bdddf
Solution provides steps necessary to calculate basic earnings per share.