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Basic and Diluted EPS Given the following year-end information, compute Greenwood Corporation's basic and diluted earnings per share. Net income, $15,000 The income tax rate, 30% 4,000 shares of common stock were outstanding the entire year. 500 shares of 10%, $50 par (and issuance price) convertible preferred stock were outstanding the entire year. Dividends of $2,500 were declared on this stock during the year. Each share of preferred stock is convertible into 5 shares of common stock. Round your answers to two decimal places.

Basic and Diluted EPS Given the following year-end information, compute Greenwood Corporation's basic and diluted earnings per share. Net income, $15,000 The income tax rate, 30% 4,000 shares of common stock were outstanding the entire year. 500 shares of 10%, $50 par (and issuance price) convertible preferred stock were outstanding the entire year. Dividends of $2,500 were declared on this stock during the year. Each share of preferred stock is convertible into 5 shares of common stock. Round your answers to two decimal places.

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 12RE: Given the following year-end information, compute Greenwood Corporations basic and diluted earnings...
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Basic and Diluted EPS

Given the following year-end information, compute Greenwood Corporation's basic and diluted earnings per share.

  • Net income, $15,000
  • The income tax rate, 30%
  • 4,000 shares of common stock were outstanding the entire year.
  • 500 shares of 10%, $50 par (and issuance price) convertible preferred stock were outstanding the entire year. Dividends of $2,500 were declared on this stock during the year. Each share of preferred stock is convertible into 5 shares of common stock.

Round your answers to two decimal places.

Basic and Diluted EPS Given the following year-end information, compute Greenwood Corporation's basic and diluted earnings per share. Net income, $15,000 • The income tax rate, 30% • 4,000 shares of common stock were outstanding the entire year. • 500 shares of 10%, $50 par (and issuance price) convertible preferred stock were outstanding the entire year. Dividends of $2,500 were declared on this stock during the year. Each share of preferred stock is convertible into 5 shares of common stock. Round your answers to two decimal places. Basic earnings per share $ Diluted earnings per share $
Transcribed Image Text:Basic and Diluted EPS Given the following year-end information, compute Greenwood Corporation's basic and diluted earnings per share. Net income, $15,000 • The income tax rate, 30% • 4,000 shares of common stock were outstanding the entire year. • 500 shares of 10%, $50 par (and issuance price) convertible preferred stock were outstanding the entire year. Dividends of $2,500 were declared on this stock during the year. Each share of preferred stock is convertible into 5 shares of common stock. Round your answers to two decimal places. Basic earnings per share $ Diluted earnings per share $
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