Question: Question. During 2016, Moore Corp. had the following two classes of stock issued and outstanding for the entire year: 100,000 shares of common stock, $1

Question. During 2016, Moore Corp. had the following two classes of

Question. During 2016, Moore Corp. had the following two classes of stock issued and outstanding for the entire year: 100,000 shares of common stock, $1 par. 1,000 shares of 4% preferred stock, $100 par, convertible share for share into common stock. Moore's 2016 net income was $900,000, and its income tax rate for the year was 30%. In the computation of diluted earnings per share for 2016, the amount to be used in the numerator is a. $896,000 b. $898,800 c. $900,000 d. $901,200

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