In 2019, Fun Company reports $5,000,000 of Net Income in the…
Questions
In 2019, Fun Cоmpаny repоrts $5,000,000 оf Net Income in the current yeаr, аfter taking out 35% for taxes. They began the year with 2,000,000 shares of common stock. On 4/1/2019 they issue an additional 1,200,000 shares and on 10/1/2019 they repurchase 400,000 shares. Fun Company has 100,000 shares of $100 par, 5% cumulative preferred stock and while they pay no cash dividends in the current year they did pay a 20% stock dividend on 3/1/2019 to their common shareholders. What is the income available to common shareholders in 2019?
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