Question

For 2017 Swifty Corporation reported net income of $38500; net sales $373000; and average share outstanding...

For 2017 Swifty Corporation reported net income of $38500; net sales $373000; and average share outstanding 16000. There were no preferred dividends. What was the 2017 earnings per share?

$0.25

$0.60

$25.16

$2.41
Business   Accounting   
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Answer #1
Solution :
Formula for calculating Ratio of Earning Per shares
Earning per shares = Net Income / total Shares outstanding
CALCULATION OF EARNING PER SHARES
Amount in $
Earning Per shares =
Net Income = $                     38,500
Divide By "/" By
Number of Shares Outstanding                         16,000
Earning Per shares = $                         2.41
Answer = Option 4 = $ 2.41
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