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    Calculating Basic Earnings per Share: Ringemup Inc. Example

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    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: _________

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    Solution Summary

    Solution provides steps necessary to calculate basic earnings per share.