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Determine the basic earnings per share for junkyard arts

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Question - Junkyard Arts, Inc., had earnings of $484,100 for the year. The company had 48,000 shares of common stock outstanding during the year and issued 4,300 shares of $150 par value preferred stock. The preferred stock has a dividend of $11 per share. There were no transactions in either common or preferred stock during the year.

Determine the basic earnings per share for Junkyard Arts for the year.

Reference no: EM132190807

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