Solved

A Company Had 90,000 Shares of Common Stock Outstanding Throughout

Question 87

Multiple Choice

A company had 90,000 shares of common stock outstanding throughout the year. Income before taxes was $166,000. The tax rate was 40 percent. EPS for net income is (rounded to the nearest cent) :


A) $1.20.
B) $1.11.
C) $1.40.
D) $0.90.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q82: Pax Inc. earned $90,000 and $110,000 of

Q83: Other comprehensive income includes unrealized gains and

Q84: Future costs associated with a restructuring can

Q85: The results from operation of a discontinued

Q86: Losses and provisions for losses with respect

Q88: Which of the following is true about

Q89: Under IFRS, companies must use a single

Q90: Basic and diluted Earnings per share figures

Q91: Other comprehensive income includes unrealized gains on

Q92: Queen Corporation decided to sell its