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Problem
Tougher Company’s current year income statement showed an EPS of $1.25 per share. If total common equity totaled $600,000 (40,000 common shares) and preferred dividends were $10,000 (10,000 preferred shares), what was net income during the period?
A
$50,000
B
$60,000
C
$62,500
D
$72,500
5:39m
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