What is monas basic earnings per share

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Reference no: EM133976133

Problem

Mona Company had the following securities outstanding on January 1, 20X1:

1) 100,000 shares of $1 par common stock
2) 30,000 shares of 3%, $50 par preferred stock. Get the instant assignment help.

During 20X1:

1) Net income was $1,000,000.
2) Cash dividends paid totaled $300,000.
3) 20,000 new shares of $1 par common stock were issued on April 1.

What is Mona's BASIC earnings per share?

Reference no: EM133976133

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