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Information concerning the capital structure of Pina Corporation follows:
December 31,
2023
2022
Common shares outstanding
103000 shares
103000 shares
Convertible preferred shares
outstanding
10300 shares
10300 shares
9% convertible bonds
$2000000
$2000000
During 2023, Pina paid dividends of $1.00 per common share and $2.50 per preferred share. The
preferred shares are non-cumulative, and convertible into 20600 common shares. The 9%
convertible bonds are convertible into 40000 common shares. Net income for calendar 2023 was
$502224. Assume the income tax rate is 30%.
What is the diluted earnings per share for 2023?
$3.68
$3.84
$3.07
$4.11
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