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MMLU-Pro / 5562 / Toft Co. had 120000 shares of common stock outstanding at January 1. On April 1…

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

Toft Co. had 120000 shares of common stock outstanding at January 1. On April 1 it issued 40000 additional shares of common stock. Outstanding all year were 10000 shares of nonconvertible preferred stock on which a dividend of 5persharewasdeclaredduringtheyear.Netincomefortheyearwas5 per share was declared during the year. Net income for the year was 480000. What should Toft report as earnings per share for the year?
Plain-text mathematical notation (without MathML)
Toft Co. had 120000 shares of common stock outstanding at January 1. On April 1 it issued 40000 additional shares of common stock. Outstanding all year were 10000 shares of nonconvertible preferred stock on which a dividend of 5persharewasdeclaredduringtheyear.Netincomefortheyearwas480000. What should Toft report as earnings per share for the year?
Original LaTeX notation
Toft Co. had 120000 shares of common stock outstanding at January 1. On April 1 it issued 40000 additional shares of common stock. Outstanding all year were 10000 shares of nonconvertible preferred stock on which a dividend of $5 per share was declared during the year. Net income for the year was $480000. What should Toft report as earnings per share for the year?

category

other

options

  1. $2.69
  2. $3.50
  3. $3.00
  4. 3.2
  5. $4.00
  6. $3.20
  7. $2.50
  8. $2.87
  9. $2.75
  10. $2.00

src

ori_mmlu-professional_accounting

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Source and history

upstream_id / Original problem ID
5562
task_id
3daba1eb-58c0-5f57-913a-36e70f33185a
task_key
default--test--5562
task_revision_id
1
config / split
default / test

Official source

initial import