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Determine the earnings per share on common stock

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Reference no: EM131756212

Question: Effect of Financing on Earnings per Share

Miller Co., which produces and sells skiing equipment, is financed as follows:

Bonds payable, 10% (issued at face amount) $450,000
Preferred $2 stock, $20 par 450,000
Common stock, $25 par 450,000

Income tax is estimated at 40% of income.

Determine the earnings per share on common stock, assuming that the income before bond interest and income tax is

(a) $157,500,

(b) $202,500, and

(c) $247,500.

Enter answers in dollars and cents, rounding to the nearest cent.

a. Earnings per share on common stock $

b. Earnings per share on common stock $

c. Earnings per share on common stock $

Reference no: EM131756212

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