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Hornet Motors reported $ 535 comma 000 net income for the current year. Beginning common...

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Accounting

Hornet Motors reported $ 535 comma 000 net income for the current year. Beginning common shares outstanding were 110 comma 000 . Hudson also had 10,000, 6% nonconvertible, cumulative, $100 par value preferred shares outstanding for the entire year. No cash dividends were declared but Hornet did declare and distribute a 10% stock dividend on common shares on July 1. Compute basic earnings per share. (Round your answer to the nearest cent.) A. $ 3.93

B. $ 4.42

C. $ 4.32

D. $ 4.92

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