Return to the Musicality data in S11-3. Musicality had 10,000 shares of common stock outstanding…

 
   

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Return to the Musicality data in S11-3. Musicality had 10,000 shares of common stock outstanding during 2016. Musicality declared and paid preferred dividends of $1,000 during 2016. Report Musicality s earnings per share on the income statement. (Round all calculations to two decimal places.) Other gains (losses)………………………….$(23,000) Net sales revenue……………………………..195,000 Loss on discontinued operations………………10,000 Cost of goods sold…………………………….74,000 Operating expenses……………………………66,000 Accounts receivahle……………………………22,000