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Pronghorn Inc. presented the following data. Net income $2,470,000 Preferred stock: 52,000 shares outstanding, $100 par,...

Pronghorn Inc. presented the following data. Net income $2,470,000 Preferred stock: 52,000 shares outstanding, $100 par, 8% cumulative, not convertible 5,200,000 Common stock: Shares outstanding 1/1 736,800 Issued for cash, 5/1 315,600 Acquired treasury stock for cash, 8/1 134,400 2-for-1 stock split, 10/1 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $

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solution Earning per share = Net Income available to common shareholders / weighted average common shares outstanding Net Inc

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