The income statement of Faster Computers,Inc.showed the following information on December 31,2014.

Compute earnings per share figures for common stock under the assumption that Faster Computer Inc.has
(1)320,000 shares of $24 par value common stock outstanding.
(2)9,600 shares of $100,par 8% cumulative preferred stock,and 240,000 shares of no-par common stock.Dividends are not in arrears.
Note: Assumption (1)is independent of (2).

Question

The income statement of Faster Computers,Inc.showed the following information on December 31,2014.
  
Compute earnings per share figures for common stock under the assumption that Faster Computer Inc.has
(1)320,000 shares of $24 par value common stock outstanding.
(2)9,600 shares of $100,par 8% cumulative preferred stock,and 240,000 shares of no-par common stock.Dividends are not in arrears.
Note: Assumption (1)is independent of (2).

Quizplus · Accepted Answer

The Answer of The income statement of Faster Computers,Inc.showed the following information on December 31,2014.
  
Compute earnings per share figures for common stock under the assumption that Faster Computer Inc.has
(1)320,000 shares of $24 par value common stock outstanding.
(2)9,600 shares of $100,par 8% cumulative preferred stock,and 240,000 shares of no-par common stock.Dividends are not in arrears.
Note: Assumption (1)is independent of (2).

The Income Statement of Faster Computers,Inc