o Sparkle the year, the company had outstanding 24 shares year. Cleaners, Inc.,

Question

o Sparkle the year, the company had outstanding 24 shares year. Cleaners, Inc., had net income of $516,050 for ts fiscal year ended September 30, 2014. During stock, and 135,500 ,000 shares of 8%550 par of common stock. Calculate t value preferred the basic earnings per share of common stock for the 2014 fiscall se the appropriate information from the data provided below to calculate operating income for the year ended December 31, 2014. $43,000 Research and development expenses Loss from discontinued operations Provision for income taxes Net sales Interest Net cash Gross profit 17,000 4,000 511,000 36,000 73,000 146,000 31,000 67,000 Selling, general and administrative espenses Accounts receivable Extraordinary gain from lawsuit settlement 45,000 net of tax expense of $13,000

Explanation / Answer

20) Basic earning per share = Net income-Preferred dividend/share outstanding

= 516050-96000/135500

Basic earning per share = 3.10 per share

Preferred dividend = (24000*50*8%) = 96000

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