During the current year, Darnsworth Company had 50,000 shares of $10 par value common stock and 7,000 shares of 8%, $30 par value convertible preferred stock outstanding. Darnsworth Company's net income was $450,000.
Compute earnings per share for the year.

Question

During the current year, Darnsworth Company had 50,000 shares of $10 par value common stock and 7,000 shares of 8%, $30 par value convertible preferred stock outstanding. Darnsworth Company's net income was $450,000. 
Compute earnings per share for the year.

Quizplus · Accepted Answer

The Answer of During the current year, Darnsworth Company had 50,000 shares of $10 par value common stock and 7,000 shares of 8%, $30 par value convertible preferred stock outstanding. Darnsworth Company's net income was $450,000. 
Compute earnings per share for the year.

During the Current Year, Darnsworth Company Had 50,000 Shares of $10