The Harbinger Corporation reported net income of $6 million and total assets of $7 million in...
The Harbinger Corporation reported net income of $6 million and total assets of $7 million in its current financial statements. During the year, their average number of common shares outstanding was 3 million. The current price of a share of its common stock is $5.
The Harbinger Corporation’s earnings per share for the current year is approximately:
Select one:
a. $2.00
b. $1.67
c. $0.40
d. $2.33
Homework Answers
Answer- The Harbinger Corporation’s earnings per share for the current year is approximately= $2.00 per share.
Explanation- Earning per Share (EPS):
Net Income – Preferred Dividends / Weighted Average number of Common shares outstanding
= $6 million/ $3 million
= $2.00 per share
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