Compute earnings per share

Reference no: EM131201370

Problem - Flagstad Inc. presented the following data.

Net income	$2,596,000
Preferred stock: 55,700 shares outstanding, $100 par, 9% cumulative, not convertible	5,570,000
Common stock: Shares outstanding 1/1	712,800
Issued for cash, 5/1	411,600
Acquired treasury stock for cash, 8/1 2-for-1 stock split, 10/1	178,000

Compute earnings per share.

Reference no: EM131201370

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