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Calculate Tomorrow Inc Diluted EPS

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Question - Tomorrow, Inc. has the following capital structure in 2018: common stock totaling 200,000 shares and convertible preferred stock totaling 10,000 shares.  The preferred stock is convertible into 25,000 shares of common stock. During 2018, Tomorrow, Inc. paid dividends of $2.00 per share on its common stock and $1.50 per share on its preferred stock. Net Income in 2018 was $315,000.  Calculate Tomorrow Inc.'s Diluted EPS.

a. $1.33 per share

b. $1.40 per share

c. $1.50 per share

d. $1.58 per share

Reference no: EM133125864

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