In 2020, Oriole Company reported net income of $576000. It declared and paid preferred stock dividends...
In 2020, Oriole Company reported net income of $576000. It
declared and paid preferred stock dividends of $93000 and common
stock dividends of $63000. During 2020, Oriole had a weighted
average of 300000 common shares outstanding. Compute Oriole's 2020
earnings per share.
$1.92
$1.61
$2.23
$1.40
Homework Answers
Net income: $576,000
Preferred stock dividend : $93,000
Common stock dividend: $63,000
Weighted average common shares: 300,000
Calculation of Oriole's 2020 earnings per share:
Earning available for common shareholders: Net Income - Preferred stock dividend
Earning available for common shareholders: $576,000 - $ 93,000
Earning available for common shareholders: $ 483,000
Earning per share : Earning available for common shareholders / Weighted average common shares
Earning per share : $ 483,000 / $ 300,000
Earning per share : $ 1.61 per share
Hence, $1.61 is correct option.
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