Curtis Corporation reports net income for 2017 of $150,000.Curtis Corporation had outstanding for all of 2017: 10,000 shares of non-cumulative,$5,preferred shares and 75,000 common shares.No dividends were declared in 2017.Earnings per share is:

Question

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D) $150,000 /75,000 shares = $2.00 since preferred shares are non-cumulative only included when declared

Curtis Corporation Reports Net Income for 2017 of $150,000