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Compute submarine eps for the year

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Reference no: EM131988728

Question - Submarine, Corp., earned net income of $110,000 for 2011. Submarine's books include the following figures:

Preferred stock, 2%, $30 par, 1,000 shares issued and outstanding - $30,000

Common stock, $1 par, $52,000 issued - $52,000

Paid-in capital in excess of par-common - $450,000

Treasury stock, common, 2,000 at cost - $40,000

Requirement - Compute Submarine's EPS for the year.

Reference no: EM131988728

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