Shamrock Company had net income of $80,000. The weighted-average common shares outstanding were 2,000 shares....
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Shamrock Company had net income of $80,000. The weighted-average common shares outstanding were 2,000 shares. The company declared $30,000 of dividends of which $10,000 was for its noncumulative, nonparticipating preferred stock. The remaining $20,000 belonged to the common shareholders. There were no other stock transactions. The company's earnings per share (to the nearest whole dollar - no decimals) is:
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