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he following balances and amounts were taken from the financial statements of Ortiz, Inc. The data...

he following balances and amounts were taken from the financial statements of Ortiz, Inc. The data are presented in alphabetical order. Accounts payable $35,000 Cash provided by operations $90,000 Accounts receivable 37,500 Net income 36,000 Average common shares 20,000 Salaries and wages payable 8,000 Average current liabilities 110,000 Stockholders’ equity 240,000 Average and total assets 600,000 Total current assets 300,000 Average total liabilities 320,000 Total current liabilities 120,000 Cash 100,000 How much is earnings per share? $1.80 $0.56 $0.15 $1.20 Click if you would like to Show Work for this question: Open Show Work

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Answer #1

Earnings per share

= Net income/Average common shares

= 36,000/20,000

= 1.80

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