Accounting Midterm Exam ACG-2011: Question 44

Shamrock Company had net income of $30,000. The weighted-average common shares outstanding were 8,000. The company declared a $2,700 dividend on its noncumulative, nonparticipating preferred stock. There were no other stock transactions. The company's earnings per share is:

	$3.41.
	$2.73.
	$3.75.
	$3.16.
	$2.87.

($30,000 - $2,700)/8,000 = $3.41