Groom Corporation had profit of $ 415,000 for the year ended December 31, 2021. On January 1, 2021, there were 90,000 common shares issued. Preferred dividends of $ 70,000 were declared and paid during 2021.
Instructions
Calculate the earnings per share for Groom Corporation for the year ended December 31, 2021.

Question

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The Answer of Groom Corporation had profit of $ 415,000 for the year ended December 31, 2021. On January 1, 2021, there were 90,000 common shares issued. Preferred dividends of $ 70,000 were declared and paid during 2021.
Instructions
Calculate the earnings per share for Groom Corporation for the year ended December 31, 2021.

Groom Corporation Had Profit of $ 415,000 for the Year