During 20X1, Petrock paid dividends of $1 per share on its common stock and $2.40 per share
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Question:
During 20X1, Petrock paid dividends of $1 per share on its common stock and $2.40 per share on its preferred stock. The preferred stock is convertible into 20,000 shares of common stock. The 8% convertible bonds are convertible into 30,000 shares of common stock. The net income for the year ending December 31, 20X1, was $285,000, and the company’s income tax rate was 21%.
Required:
- What was basic EPS for 20X1?
- What was diluted EPS for 20X1?
Related Book For
Finance Applications and Theory
ISBN: 978-0077861681
3rd edition
Authors: Marcia Cornett, Troy Adair
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