laroado85
Oct 8, 2007, 02:10 PM
I have accounting problem that I am stuck on. Would appreciate anybody's help!
The problem reads:
Sunland Company had net income of $250,000 during the year. There were 200,000 common shares outstanding during the year. There were 1,000 shares of $100 par value, 8% preferred stock outstanding during the year. Determine the basic earnings per share.
I know the formula for basic earnign per share, but with the bold information, how would I find the preferred stock dividend? Thank you
The problem reads:
Sunland Company had net income of $250,000 during the year. There were 200,000 common shares outstanding during the year. There were 1,000 shares of $100 par value, 8% preferred stock outstanding during the year. Determine the basic earnings per share.
I know the formula for basic earnign per share, but with the bold information, how would I find the preferred stock dividend? Thank you