Marigold presented the following data: Net income $5,811,000 Bonds: 10%, $761,000 par value 748,400 Preferred...
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Accounting
Marigold presented the following data:
Net income $5,811,000
Bonds: 10%, $761,000 par value 748,400
Preferred stock: 100,000 shares outstanding, $100 par, 8% cumulative, not convertible. 10,000,000
Common stock: Shares outstanding 1/1 500,000
Issued for cash, 4/1 800,000
Issued 40% stock dividend, 10/1
The Common Stock has a $1 par value. Compute earnings per share. (Round answer to 2 decimal places, e.g. 2.55.)
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