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E11-16A - Student Mukhtar Lakha Course Acct 2301.7004 Gary...

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Unformatted text preview: Student: Mukhtar Lakha Course: Acct 2301.7004 - Gary Harris - Spring 2011 Instructor: Gary Harris Book: Harrison: Financial Accounting, Se Date: 4/28/11 Time: 8:11 PM E1 1- 16A (similar to) Sand Dune Loan Company's balance sheet reports the following: Preferred stock, $80 par value, 10%, 9,000 shares issued . . . . $ 720,000 Common stock, $3.00, 1,400,000 shares issued ............ 4,200,000 Treasury stock, common, 50,000 shares at cost ............ 400,000 During 2010 Sand Dune earned net income of $5,800,000. Requirement 1. Compute Sand Dune's EPS for 2010. Requirement 1. Compute Sand Dune's EPS for 2010. Select the formula and then enter the amounts to calculate earnings per share (EPS). (Round the EPS to two dec places.) ( Net income V — Preferred dividends V ) / Common shares outstanding = l ( $ 5,800,000 ‘ — $ 72,000 V) / 1,350,000 ‘ = $ YOU ANSWERED: ( Treasury stock - Preferred stock ) / Common shar ( 580000 — nothing ) / notl Page 1 ...
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