Jax corporation had net income for 2018 of $ 43 comma 700. jax had 17 comma 400 shares of common stock outstanding at the beginning of the year and 15 comma 000 shares of common stock outstanding as of december 31, 2018. during the year, jax declared and paid preferred dividends of $ 11 comma 300. compute jax's earnings per share.

$ 2.00

Explanation:

Firstly, we need to calculate average number of share outstanding during 2018:

Average share outstanding during 2018 = (17,400 + 15,000)/2 = 16,200

Next, we neet to calculate net income attributable to common shareholders of JAX Corporation:

Net income attributable to common shareholders of JAX Corporation = JAX Net income - Preferref dividend = 43,700 - 11,300 = 32,400.

Putting all the numbers together, JAX's earning per share is calculated as below:

JAX's earning per share = Net income to common shareholders/Average number of share outstandings = 32,400/16,200 = 2.00

So, JAX's earning per share is $ 2.00

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