Question: Please answer with good presentation using commas in each figure Assume that the following data relative to Kane Company for 2015 is available: Net Income

Please answer with good presentation using commas in each figure

Assume that the following data relative to Kane Company for 2015 is available:

Net Income $2,845,000

Transactions in Common Shares

Jan. 1, 2015, Beginning number of shares 972,000

Mar. 1, 2015, Purchase of treasury shares 86,400

August 1, 2015 Stock Dividend of 37%

December 1, 2015 Issuance of new shares 93,000

6 % Cumulative Convertible Preferred Stock

Sold at par, convertible into 114,000 shares of common (already adjusted for stock dividend). $725,000

Stock Options

24,000 exercisable at the option price of $25 per share. Average market price in 2015 was $34 (market price and option price adjusted for stock dividend)

a.Calculate the dividend paid to preferred stockholders.

b. Calculate the weighted-average shares outstanding during the year

c.Compute the basic earnings per share (Round answer to nearest penny)

d.Compute the diluted earnings per share (Round answer to nearest penny)

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