Blossom Corporation reported net income of $213,860 in 2025 and had 53,900 shares of common stock outstanding throughout the year. Also outstanding all year were 4,500 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share. Blossom's tax rate is 50%. Compute Blossom's 2025 diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) Diluted earnings per share +A $

Blossom Corporation reported net income of $213,860 in 2025 and had 53,900 shares of common stock outstanding throughout the year. Also outstanding all year were 4,500 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share. Blossom's tax rate is 50%. Compute Blossom's 2025 diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) Diluted earnings per share +A $

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 24E

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Given the following year-end information, compute Greenwood Corporations 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. 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.
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