At December 31, 2011 and 2010, Miley Corp. had 180,000 ordinary shares and 10,000 shares of 4%,$100 par value cumulative preference shares outstanding. No dividends were declared on either the preference or ordinary shares in 2011 or 2010. Net income for 2011 was $400,000. For 2011, earnings per share amounted to

At December 31, 2011 and 2010, Miley Corp. had 180,000 ordinary shares and 10,000 shares of 4%,$100 par value cumulative preference shares outstanding. No dividends were declared on either the preference or ordinary shares in 2011 or 2010. Net income for 2011 was $400,000. For 2011, earnings per share amounted to

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 8RE: Given the following year-end information for Somerset Corporation, compute its basic earnings per...

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Given the following year-end information for Somerset Corporation, compute its basic earnings per share. Net income, 13,000 Preferred dividends declared, 4,000 Weighted average common shares for the year, 4,500
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