Mayan Company had net income of $132,000. The weighted-average common shares outstanding were 80,000. The company declared a $27,000 dividend on its noncumulative, nonparticipating preferred stock. There were no other stock transactions. The company's earnings per share is:$1300$1340$1350None of the above

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Business

Kenna

12 June, 07:10

Mayan Company had net income of $132,000. The weighted-average common shares outstanding were 80,000. The company declared a $27,000 dividend on its noncumulative, nonparticipating preferred stock. There were no other stock transactions. The company's earnings per share is:$1300$1340$1350None of the above

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Nickolas Bradshaw · Answer 1

None of the above

Explanation:

This can be explained as (net income - preferred dividends) / weighted-average common shares outstanding

132,000 - 27,000 / 80,000 = 1.31 ≅ $1310.