Pearl Corporation earned $380,000 during a period when it had an average of 100,000 shares of common stock outstanding. The common stock sold at an average market price of $18 per share during the period. Also outstanding were 14,700 warrants that could be exercised to purchase one share of common stock for $12 for each warrant exercised. (a) Are the warrants dilutive? (b) Compute basic earnings per share
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