Compute earnings per share
Problem:
Corporation reported net income of $75,000; net sales $750,000; and weighted average shares outstanding of 7,500. There were no preferred stock dividends.
Required:
Question: What were the 2012 earnings per share?
Note: Explain in detail.
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Question: What were the 2012 earnings per share? Note: Explain in detail.
Please prepare the following journal entries. Indicate which account should be debited and which account should be credited, along with the dollar amount of the debit and credit.
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