The Following Information Relates to the Tykex Company for 2014

question 66

Multiple Choice

The following information relates to the Tykex Company for 2014:
Net income,$50,000
Common stock,shares outstanding on January 1: 30,000
June 30,2014,issued 2,000 shares of 8% cumulative convertible preferred
Stock,$100 par value,each share convertible into 10 shares
Of common stock.
September 30,2014,issued a 40% stock dividend.
What is diluted earnings per share?

• A)$1.00
• B)$0.89
• C)$0.81
• D)$0.76

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