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15 September, 20:27

In 2017, moreno cheeses had a net income of $42,390, paid preferred dividends of $6,000, and had 18,000 shares of common stock outstanding. what was their earnings per share for 2017?

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  1. 15 September, 20:48
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    To answer the question above, we subtract the preferred dividends from the net income. That is,

    $42,390 - $6,000 = $36,390

    Then, to determine the earnings per share, we simply divide the obtained value above by the number of shares. That is,

    $36,390 / 18,000 = $2.02
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