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15 May, 05:08

Spanos Corporation reported net income $26,000, net sales $400,000, and weighted-average common shares outstanding 4,000. There were preferred dividends of $2,000. What was the 2022 earnings per share?

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  1. 15 May, 06:27
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    Net income = $26,000

    Less Preferred dividend = $2,000

    Income available for common shareholder = $24,000

    Earning per share = $24,000/4000 = $8,000

    Explanation:

    Earning per share is earning after preferred dividends, divided by the number of common shares, in this case the net income of $26,000 must be reduced by the preferred dividends of $2,000, the resulting balance of $24,000 is divided by the outstanding common shares of 4,000, yielding a figure of $8,000, which represents the earning per share abbreviated as EPS.
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Home » Business » Spanos Corporation reported net income $26,000, net sales $400,000, and weighted-average common shares outstanding 4,000. There were preferred dividends of $2,000. What was the 2022 earnings per share?
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