DiCenta Corporation reported net income of $270,000 in 2020 and had 50,000 shares of common stock outstanding throughout the year. Also outstanding all year were 5,000 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share. DiCenta's tax rate is 20%.
Compute DiCenta's diluted earnings per share.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “DiCenta Corporation reported net income of $270,000 in 2020 and had 50,000 shares of common stock outstanding throughout the year. Also ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
A marginal benefit curve has a negative or a positive slope?
Answers (1)
Under the Wagner Act of 1935, an employer has a legal obligation to do all of the following except: Bargain with a duly elected representative of the employees. Make concessions in response to union demands during a bargaining session.
Answers (1)
How do consumers benefit in a highly competitive market? es) A shortage will result. A surplus will result. They will pay lower prices for quality goods. They will pay higher prices for low quality goods.
Answers (1)
At the end of its 2020 fiscal year, Pastel, Inc., received an order from a customer for $40,000. The merchandise will ship early in 2021. Because the sale was made to a long-time customer, the controller recorded the sale in 2020.
Answers (2)
The company usually collects credit sales 20% in the month of sale, 70% in the month following the month of sale, and the remainder in the second month following the month of sale. There are no bad debts.
Answers (1)
New Questions in Business
Natasha has $1000 to open a checking account. She can maintain a monthly balance of $600. She also has a savings account at the same bank. Her employer offers direct deposit and she plans to use online bill paying.
Answers (1)
Ortega Company manufactures computer hard drives. The market for hard drives is very competitive. The current market price for a computer hard drive is $42. Ortega would like a profit of $12 per drive.
Answers (1)
Fact Pattern: Conner purchased 300 shares of Zinco stock for $30,000 in 1994. On May 23, 2013, Conner sold all the stock to his daughter Alice for $20,000, its fair market value at the time. Conner realized no other gain or loss during 2013.
Answers (1)
When authority is concentrated at the top level of management, the organization is said to be decentralized. a. true b. false?
Answers (1)
On September 1, Advantage Maintenance Company contracted to provide monthly maintenance services for the next five months at a rate of $3,000 per month. The client paid Advantage $15,000 on September 1. The maintenance services began on that date.
Answers (1)