On January 1, 2014, XZC Had Outstanding 6,000 Common Shares

question 48

Essay

On January 1, 2014, XZC had outstanding 6,000 common shares and 1,000, $3 nonconvertible cumulative preferred shares.On March 1, 2014, the corporation sold and issued an additional 6,000 common shares.At year-end, there were common stock warrants outstanding for 200 common shares; the option price was $15.The company earns interest at 10% and has a 40% tax rate.Net income was $41,675.Compute the diluted EPS that would be reported and show your computations.
Diluted EPS: $ ________

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