During 2013, M Co. had the following two classes of stock issued and outstanding for the entire
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During 2013, M Co. had the following two classes of stock issued and outstanding for the entire year:
• 400,000 shares of common stock, $1 par.
• 2,000 shares of 4% preferred stock, $100 par, convertible share-for-share into common stock.
M's 2013 net income was $1,800,000, and its income tax rate for the year was 30%. In the computation of diluted earnings per share for 2013, the amount to be used in the numerator is----?
Related Book For
Elementary Statistics Picturing the World
ISBN: 978-0321911216
6th edition
Authors: Ron Larson, Betsy Farber
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