At December 31, 2024 and 2023, Markle Company had 111,000 shares of common stock and 6,100 shares of 3%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2024 or 2023. Net income
At December 31, 2024 and 2023, Markle Company had 111,000 shares of common stock and 6,100 shares of 3%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2024 or 2023. Net income for 2024 was $610,000. For 2024, basic earnings per share was:
Homework Answers
6,100*$100*3%= 18,300
(610,000-18,300)/111,000= 5.3306306306 or 5.33 answer
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At December 31, 2024 and 2023, Markle Company had 111,000 shares of common stock and 6,100 shares of 3%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2024 or 2023. Net income
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