At December 31, 2021 and 2020, Cow Co. had 105,000 shares of common stock and 5,500 shares of 3%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2021 or 2020. Net income for 2021 was $550,000. For 2021, basic earnings per share was:a. $1.65 b. $4.92 c. $5.08d. $9.55

Option B. $4.92  

Explanation:

The interest on the preferred stock due on the company can be calculated as under:

Interest Payable on 2021 = Preferred: 3% * $100 par value × 2 years × 5,500

Interest Payable on 2021 = $33,000

The earnings can be calculated as under:

Earnings after interest and tax  = Net Income after tax -  Interest

Here

Total Income = $550,000

Interest = $33,000

By putting the values, we have:

Earnings after interest and tax = $550,000 - $33,000 = $517,000

Earnings per share can be calculated using the following formula:

Earnings per share = Earning after interest & tax / Number of shares

Earnings per share = $517,000 / 105,000 = $4.92

b is your answer toy your queston

explanation:

x=3

step-by-step explanation:

this is really simple i saw that there was only one term (5x) and thought if that was 15 what would i have to multiply everything else to get it there? well if 5x became 15 then x would have to be 3 so plug the 3 in the x for the other equations and you get 15 for the other ones. so there you go. : )