Question

Unique corp. had 50,000 shares of $5 preferred stock, $100 par, and 100,000 shares of $1 par common stock outstanding throughout the year. net income for the year was $780,000, and unique declared and distributed a cash dividend of $1 per share on its common stock. earnings per share amounted to

Answer 1

50,000 x 5 = $250,000 Preferred Dividends
(780,000 - 250,000) / 100,000 =
b.$5.30