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18 January, 04:47

Mayan Company had net income of $33,580. The weighted-average common shares outstanding were 9,200. The company declared a $3,900 dividend on its noncumulative, nonparticipating preferred stock. There were no other stock transactions. The company's earnings per share is:

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  1. 18 January, 06:10
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    3.23 per share

    Explanation:

    Given that,

    Net income = $33,580

    Preferred dividends = $3,900

    Weighted-average common shares outstanding = 9,200

    Therefore,

    Earnings per share:

    = (Net income - Preferred dividends) : outstanding common shares

    = ($33,580 - $3,900) : 9,200

    = 29,680 : 9,200

    = $3.23 per share

    Hence, the company's earnings per share is $3.23 per share.
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