At December 31, 2021 and 2020, P Co. had 50,000 shares of common stock and...
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Accounting
At December 31, 2021 and 2020, P Co. had 50,000 shares of common stock and 5,000 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2021 or 2020. Net income for 2021 was $500,000. For 2021, basic earnings per common share amounted to:
Group of answer choices
$9.50.
$5.00.
$9.00.
$10.00.
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