Compute CCC earnings per share

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Problem - C. Carrasco Corp (CCC) reported net income of $390,000 in 2015 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. CCC's tax rate is 40%.

Compute CCC's 2015 earnings per share and diluted earnings per share (if applicable).

Reference no: EM132454816

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