Kramer Inc. had 90 million shares of common stock, 1 million
shares of 6%, $100 par, cumulative preferred stock, and 1 million
shares of 8%, $100 par, noncumulative preferred stock outstanding
at the end of 2017 and 2018. No dividends were declared or paid on
common stock in either year. In 2018, a $2.5 million dividend was
paid on the 6% preferred stock and a $3.5 million dividend was paid
on the 8% preferred stock. Net income for 2018 was $295 million.
The company's tax rate is 30%.
Compute basic earnings per share for the year ended December 31, 2018. (Round your answer to 2 decimal places.)
Please up vote the solution if it helpful, if you have any doubts comment below...........Thank you
Get Answers For Free
Most questions answered within 1 hours.