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Tom Company had net income of $900,000 for 20X1. 100,000 common shares were issued and...

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Accounting

Tom Company had net income of $900,000 for 20X1. 100,000 common shares were issued and outstanding on January 1. Preferred dividends declared and paid were $80,000 for 20X1. 120,000 additional common shares were issued on April 1.

What are the earnings per share for 20X1?

  1. $9.00
  2. $4.74
  3. $4.32
  4. $4.09
  5. $3.73

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