lynette1259
Aug 9, 2006, 05:53 AM
Need more help... it is very appreciated.
A Corp. has outstanding 125,000 shares of common stock and 7,500 share of noncumulative, 8 percent, $50 par preferred stock. Each preferred share is convertible into 8 shares of common stock. Net income was $231,500.
Compute basic and diluted earnings per share assuming dividends were declared and paid on the preferred stock.
A Corp. has outstanding 125,000 shares of common stock and 7,500 share of noncumulative, 8 percent, $50 par preferred stock. Each preferred share is convertible into 8 shares of common stock. Net income was $231,500.
Compute basic and diluted earnings per share assuming dividends were declared and paid on the preferred stock.