Earnings per share-basic and diluted
Stainless Corporation had net income of $7,800,000 in 2010. The company had 500,000 shares of $4 par value common stock and 70,000 shares of 8%, $100 par, convertible preferred stock outstanding throughout the year. Each share of preferred stock is convertible into two shares of common stock. Compute the following for 2010:

Question

Quizplus · Accepted Answer

The Answer of Earnings per share-basic and diluted
Stainless Corporation had net income of $7,800,000 in 2010. The company had 500,000 shares of $4 par value common stock and 70,000 shares of 8%, $100 par, convertible preferred stock outstanding throughout the year. Each share of preferred stock is convertible into two shares of common stock. Compute the following for 2010:

Earnings Per Share-Basic and Diluted