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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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.
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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