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Exercise 16-18 Flagstad Inc. presented the following data. $2,500,000 Net income Preferred stock: 50,000 shares outstanding,...

Exercise 16-18 

Flagstad Inc. presented the following data. 


Net income $2,500,000 

Preferred stock: 50,000 shares outstanding, $100 par, 8% cumulative, not convertible 5,000,000

Common stock: Shares outstanding 1/1 750,000

Issued for cash, 5/1 300,000

Acquired treasury stock for cash, 8/1 150,000

2-for-1 stock split, 10/1   


Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) 

Earnings per share $_______ 

Solutions

Expert Solution

Answer: $1.18

ekkarill92 answered 2 years ago
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