Question: PLEASE SHOW ALL WORK AND EXPLAIN During 2016, Yang Corp. had the following two classes of stock issued and outstanding for the entire year: 14,591

PLEASE SHOW ALL WORK AND EXPLAIN

During 2016, Yang Corp. had the following two classes of stock issued and outstanding for the entire year:

14,591 shares of common stock, $1 par.

2,119 shares of 8% preferred stock, $31 par, convertible share for share into common stock.

Yangs 2016 net income was $130,415, and its income tax rate for the year was 30%.

Yangs Diluted EPS is $__________ Round your answer 2 decimals

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