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  3. net income was $230,500 for the year. throughout t

Net income was $230,500 for the year. Throughout the year the company had outstanding 15,000...

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Accounting

Net income was $230,500 for the year. Throughout the year the company had outstanding 15,000 shares of $3.00, $50 par value preferred stock and 106,000 shares of common stock.

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Calculate basic earnings per share of common stock for the year.

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