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EPS Crystal Arts, Inc., had earnings of $532,400 for 2016. The company had 50,000 shares of...

EPS Crystal Arts, Inc., had earnings of $532,400 for 2016. The company had 50,000 shares of common stock outstanding during the year. In addition, the company issued 3,200 shares of $150 par value preferred stock on January 3, 2016. The preferred stock has a dividend of $7 per share. There were no transactions in either common or preferred stock during 2016. Determine the basic earnings per share for Crystal Arts. Round answer to two decimal places. $per share

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Answer #1

Net income

$ 5,32,400.00

Less: Preference dividend

$      22,400.00

Net income available for equity shareholders

$ 5,10,000.00

Number of Common shares

50000

Earnings per share

$              10.20

EPS= $510,000/50000 = $10.20

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