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  3. net income was $204,100 for the year. throughout t

Net income was $204,100 for the year. Throughout the year the company had outstanding 13,000...

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Question

Accounting

Net income was $204,100 for the year. Throughout the year the company had outstanding 13,000 shares of $2.50, $50 par value preferred stock and 104,000 shares of common stock.

Required:

Calculate basic earnings per share of common stock for the year. (Round "Earnings per share-basic" to 2 decimal places.)

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