Flyaway also paid 10000 cash dividends on its common stock., Ask an Expert

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Flyaway Travel Company reported net income for 2011 in the amount of $90,000. During 2011, Flyaway declared and paid $2,125 in cash dividends on its nonconvertible preferred stock. Flyaway also paid $10,000 cash dividends on its common stock. Flyaway had 40,000 common shares outstanding from January 1 until 10,000 new shares were sold for cash on April 1, 2011. What is 2011 basic earnings per share?

A. $1.85.

B. $1.64.

C. $1.76.

D. None of these is correct

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Accounting Basics, Accounting

Category:- Accounting Basics
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