Find Basic and diluted EPS NI= 50,000 COMM SHARES=10,000 PREF SHARES=2,000 SH, $8, CUMULATIVE, CONVERTIBLE INTO 3

Find Basic and diluted EPS 

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NI= 50,000 COMM SHARES=10,000 PREF SHARES=2,000 SH, $8, CUMULATIVE, CONVERTIBLE INTO 3 SH COMM FOR EACH SH PREFERRED B/P= $9,000, 10%, ISSUED JULY 1ST, CONVERTIBLE INTO 3,000 SH COMM CONTINGENT SHARES: WE MUST ISSUE 7,000 SHARES IN 2030 IF WE THEN EARN 40,000 TAX RATE=.25 FIND BASIC AND DILUTED EPS NI= 50,000 COMM SHARES=10,000 PREF SHARES=2,000 SH, $8, CUMULATIVE, CONVERTIBLE INTO 3 SH COMM FOR EACH SH PREFERRED B/P= $9,000, 10%, ISSUED JULY 1ST, CONVERTIBLE INTO 3,000 SH COMM CONTINGENT SHARES: WE MUST ISSUE 7,000 SHARES IN 2030 IF WE THEN EARN 40,000 TAX RATE=.25 FIND BASIC AND DILUTED EPS

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To calculate basic EPS we need to divide the net income available to common shareholders by the weighted average number of common shares outstanding d... View the full answer