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10. A company reported a net income of $1,500,000 and a weighted average of 30,000 common shares outstanding. There are 5,000 convertible preferred shares outstanding that paid an annual dividend of $10. Each preferred share is convertible into 3 shares of the common stock. The diluted EPS is closest to: A. $33.3 B. $32.2 C. $48.3

10. A company reported a net income of $1,500,000 and a weighted average of 30,000 common shares outstanding. There are 5,000 convertible preferred shares outstanding that paid an annual dividend of $10. Each preferred share is convertible into 3 shares of the common stock. The diluted EPS is closest to: A. $33.3 B. $32.2 C. $48.3

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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10. A company reported a net income of $1,500,000 and a weighted average of 30,000 common shares outstanding. There are 5,000 convertible preferred shares outstanding that paid an annual dividend of $10. Each preferred share is convertible into 3 shares of the common stock. The diluted EPS is closest to: A. $33.3 B. $32.2 C. $48.3 usn desa jon solo SW
Transcribed Image Text:10. A company reported a net income of $1,500,000 and a weighted average of 30,000 common shares outstanding. There are 5,000 convertible preferred shares outstanding that paid an annual dividend of $10. Each preferred share is convertible into 3 shares of the common stock. The diluted EPS is closest to: A. $33.3 B. $32.2 C. $48.3 usn desa jon solo SW
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