at december 31 2017 millwood corporation has 2000 shares of 100 par value 8 preferred stock outstanding and 100000 shares of 10

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Instructions
Compute the earnings per share of common stock under the following independent situations. (Round to two decimals.)
(a) The dividend to preferred stockholders was declared. There has been no change in the number of shares of common stock outstanding during the year.
(b) The dividend to preferred stockholders was not declared. The preferred stock is cumulative. Millwood held 10,000 shares of common treasury stock throughout the year.

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