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Lombard, Inc
Lombard, Inc. had the following information for 2017:
Net income $700,000
Common stock dividends 90,000
Preferred stock dividends 130,000
Weighted average common shares outstanding 200,000
Earnings per share for Lombard was:
Select one:
a. $2.40
b. $3.05
c. $3.50
d. $2.85
Expert Solution
Earning per share= (Net income- Preferred stock dividends)/ Weighted average common shares outstanding
= (700000- 130000)/ 200000
= $2.85
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