Earnings per share
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TEF Corp has the following Stockholders' Equity account balances at the end of the current fiscal year, after all closing entries have been posted:
Common stock outstanding: 2,203,000 shares with a dollar value of $110,150 ($0.05 per share)
Preferred stock issued: 1,000 shares with a dollar value of $1,000.
Retained earnings: $53,575,800.
Net income for the current year was $8,290,000.
Preferred dividends are $55,000
No treasury stock.
Compute the earnings per share of common stock.
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Solution Summary
The solution explains how to calculate the earnings per share on a common stock.
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