Author Question: Wild Trails Inc, an adventure resort in Texas, has 500 shares of outstanding common stock and has ... (Read 124 times)

james0929 · **on:** Jul 14, 2018

Wild Trails Inc, an adventure resort in Texas, has 500 shares of outstanding common stock and has not issued any preferred stock. Net income is 27,500. Wild Trails Inc's earnings per share is _____.
A) 55
B) 0.018
C) 13,750
D) 27,000

Question 2

Although a partnership pays no income tax, the Internal Revenue Service requires partnerships to file an annual information return that states the amount of distributions made to each partner.

Indicate whether the statement is true or false