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Compute diluted earnings per share

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Question

DiCenta Corporation reported net income of $270,000 in 2017 and had 50,000 shares of common stock outstanding throughout the year. Also outstanding all year were 5,000 shares of cumulative preferred stock at $10 per share. The average market price of the stock during the year was $15. Compute diluted earnings per share.

Reference no: EM132327065

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