Multiple Choice
At December 31, 2018 and 2017, Cow Co. had 100,000 shares of common stock and 5,000 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2018 or 2017. Net income for 2018 was $500,000. For 2018, basic earnings per share was:
A) $2.50
B) $4.50
C) $4.75
D) $5.00
Correct Answer:
Verified
Correct Answer:
Verified
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