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25. River City, Inc. reported the following for 2018:
Net sales $220,000
Net income $37,000
Market price per share of common stock $28.75
Dividends $4,100
Average number of shares of common stock
outstanding 10,000
What are the earnings per share for River City, Inc. (to the nearest cent)?

Respuesta :

sqdancefan

Answer:

  $3.70 per share

Step-by-step explanation:

To find earnings per share, divide earnings by shares:

  income/shares = ($37,000)/(10,000 shares) = $3.70 per share