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Waterway Corporation had 602500 shares of common stock outstanding during the year. Waterway declared and...

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Accounting

Waterway Corporation had 602500 shares of common stock outstanding during the year. Waterway declared and paid cash dividends of $431000 on the common stock and $326000 on the preferred stock. Net income for the year was $1772000. What is Waterway's earnings per share?
$1.90
$2.40
$2.23
$2.28
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