Question crystal arts inc had earnings of 309500 for 2016, Ask an Expert

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Question: Crystal Arts, Inc., had earnings of $309,500 for 2016. The company had 35,000 shares of common stock outstanding during the year. In addition, the company issued 3,000 shares of $150 par value preferred stock on January 3, 2016. The preferred stock has a dividend of $11 per share. There were no transactions in either common or preferred stock during 2016. Determine the basic earnings per share for Crystal Arts. Round answer to two decimal places.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92579543

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