A company reports the following: Net income $160,000
Preferred dividends $10,000
Shares of common stock outstanding 20,000
Market price per share of common stock $35

The company's earnings per share on common stock is:

$7.50

Explanation:

Earnings per share = Earning attributable to holders of Common Stock ÷ Weighted Average Number of Common Stocks Outstanding

therefore,

Earnings per share = ($160,000 - $10,000) ÷ 20,000

                                = $7.50

thus,

The company's earnings per share on common stock is: $7.50

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