On January 1, 2012, Huron Valley Corporation had 500,000 shares of $1 par value common stock outstanding and 40,000 shares of 5%, $100 par value preferred stock outstanding. There were no stock transactions during the year. Net income for the year was $740,000. Compute the earnings per share.

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The Answer of On January 1, 2012, Huron Valley Corporation had 500,000 shares of $1 par value common stock outstanding and 40,000 shares of 5%, $100 par value preferred stock outstanding. There were no stock transactions during the year. Net income for the year was $740,000. Compute the earnings per share.

On January 1, 2012, Huron Valley Corporation Had 500,000 Shares