Solved: The preferred stock pays an annual dividend of 5 per share, Accounting Basics

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The preferred stock pays an annual dividend of 5 per share

Question - DiCenta Corporation reported net income of $253,000 in 2010 and had 50,000 shares of common stock outstanding throughout the year. Also outstanding all year were 6,220 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share. DiCenta' tax rate is 40%. Compute DiCenta' 2010 diluted earnings per share?

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Accounting Basics: The preferred stock pays an annual dividend of 5 per share

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Accounting Basics: The preferred stock pays an annual dividend of 5 per share

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