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Lee Corp. had 400,000 weighted average common shares outstanding in 2020 and 10,000 weighted average...

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Accounting

Lee Corp. had 400,000 weighted average common shares outstanding in 2020 and 10,000 weighted average preferred shares outstanding in 2020. Lee Corp. reported net income of $900,000 in 2020, and declared and paid $100,000 and $20,000 of common stock and preferred stock dividends, respectively. Compute earnings per share for Lee Corp. for 2020.

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