Groom Corporation had profit of $415,000 for the year ended December 31, 2014. On January 1, 2014, there were 90,000 common shares issued. Preferred dividends of $70,000 were declared and paid during 2014.
Instructions
Calculate the earnings per share for Groom Corporation for the year ended December 31, 2014.

Question

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The Answer of Groom Corporation had profit of $415,000 for the year ended December 31, 2014. On January 1, 2014, there were 90,000 common shares issued. Preferred dividends of $70,000 were declared and paid during 2014.
Instructions
Calculate the earnings per share for Groom Corporation for the year ended December 31, 2014.

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