Junkyard Arts, Inc., had earnings of $593,900 for the year.

The company had 50,000 shares of common stock outstanding during the year and issued 2,700 shares of $100 par value preferred stock.

The preferred stock has a dividend of $7 per share.

There were no transactions in either common or preferred stock during the year.

Determine the basic earnings per share for Junkyard Arts for the year. Round answer to two decimal places.

The basic EPS is $11.50

Explanation:

The basic earnings per share is the amount of net income that is earned per share of common equity or the amount of net income attributable to each share of common stock. The basic earnings per share (EPS) is calculated using the following formula,

Basic EPS = (Net Income - Preferred stock dividend) / Weighted average number of common shares outstanding

The preferred stock dividend for the period was = 7 * 2700 = 18900

Basic EPS = (593900 - 18900) / 50000

Basic EPS = $11.50

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.

answer; whoever is willing and able to pay the price;