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Compute earnings per share and diluted earnings per share

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At December 31, 2008 Quiggin had 400,000 shares of common stock outstanding. The company also had 40,000 shares of $7 convertible preferred stock. Each share is convertible into 4 shares of common stock. (Dividends were declared and paid)

Transactions during 2009:

July 1, 2009               Sold 200,000 shares

July 8, 2009               Declared 100% stock dividend

September 1, 2009     Sold 120,000 shares

October 1, 2009          Purchased 60,000 shares to be held in treasury

                                 Quiggin reported a loss of $670,700 for 2009

How do I compute earnings per share and diluted earnings per share?

Reference no: EM13944792

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