Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. for the year ended 12/31/2013, a company reported

For the year ended 12/31/2013, a company reported Net Income of $50,000. On 1/1/2013, the...

90.2K

Verified Solution

Question

Accounting

For the year ended 12/31/2013, a company reported Net Income of $50,000. On 1/1/2013, the company had 10,000 common shares outstanding and 10,000 preferred shares outstanding. The company issued 4,000 common shares on 9/30/2013; thus common shares outstanding was 14,000 for the last three months of 2013. The company paid $1,000 of preferred dividends and $6,000 of common dividends during 2013.

What is the companys Basic EPS for 2013?

$4.45

$2.33

$3.91

$4.90

$4.00

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students