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Submarine, Corp

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solution


Question

Submarine, Corp., earned net income of $110,000 for 2011. Submarine's books include the following figures;Preferred stock, 2%, $30 par, 1,000 shares issued and outstanding........ $30,000;Common stock, $1 par, $52,000 issued........................................................ $52,000;Paid-in capital in excess of par--common..................................................... $450,000;Treasury stock, common, 2,000 at cost......................................................... $40,000;Requirement;1. Compute Submarine's EPS for the year.

 

Paper#79603 | Written in 18-Jul-2015

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