During its fiscal year, Morey Corporation had outstanding 600,000 shares of $6.50 preferred stock and 2,000,000 shares

Question:

During its fiscal year, Morey had outstanding 600,000 shares of $6.50 preferred stock and 2,000,000 shares of common stock. Morey's net income for the year was $19,550,000. The company also had granted stock options to employees for 200,000 shares of at $10 per share (exercise price). The average price of the company's during the fiscal year was $20 per share.
Required:
a. Calculate the company's basic earnings per share.
b. Calculate the company's diluted earnings per share.
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...