Quark Company earned $90,000 in income and paid cash dividends of $10,000 to preferred shareholders during...
Quark Company earned $90,000 in income and paid cash dividends of $10,000 to preferred shareholders during the current year. Quark had 12,500 weighted-average shares of common stock outstanding for the year. Calculate the company's earnings per share.
4. Quark Company earned $90,000 in income and paid cash dividends of $10,000 to preferred shareholders during the current year. Quark had 12,500 weighted-average shares of common stock outstanding for the year. Calculate the company's earnings per share.
Homework Answers
| EPS | = | Net Income available to equity shareholders/Weighted average number of outstanding shares | ||||
| EPS | = | $80000 / 12500 shares | ||||
| = | $ 6.40 | |||||
| Net Income | = | $ 90,000 | ||||
| Less: | Preferred dividend | = | $ 10,000 | |||
| Net Income available to equity shareholders | = | $ 80,000 | ||||
| Weighted average number of outstanding shares | = | 12,500 | ||||
| Therefore, Earnings Per share is $6.40 | ||||||
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