Monty Inc. presented the following data. Net income $2,340,000 Preferred stock: 53,000 shares outstanding, $100 par, 8% cumulative, not convertible 5,300,000 Common stock: Shares outstanding 1/1 692,400 Issued for cash, 5/1 321,600 Acquired treasury stock for cash, 8/1 160,800 2-for-1 stock split, 10/1 Compute earnings per share. (Round answer to 2 decimal places, e. g. $2.55.) Earnings per share $enter earnings per share rounded to 2 decimal places

Monty Inc.

The earnings per share (EPS) is:

= $0.75

Explanation:

a) Data and Calculations:

Net income = $2,340,000

8% cumulative, non-convertible Preferred stock:

53,000 shares outstanding at $100 par = $5,300,000

Common Stock:

1/1 Shares outstanding          692,400

5/1 Issued for cash                 321,600

8/1 Treasury Stock                (160,800)

10/1 Stock Split                    1,706,400

Total shares outstanding 2,559,600

Net income                              $2,340,000

Dividends:

Preferred stock                            424,000 (8% of $5,300,000)

Remaining for common stock $1,916,000

Earnings per share = $1,916,000/2,559,600 = $0.75

b) Monty's EPS is the amount of net income that is remaining for distribution to common stockholders after deducting the preferred stockholders' dividends.

the answer choices are:

provides online banking

provides automatic payment services

provides home loans by using saving accounts

accept tax return refunds

hopefully someone can answer the question now lol