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Compute the Flint diluted earnings per share

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Reference no: EM133049160

Question - Flint Corporation reported net income of $230,000 in 2020 and had 47,700 shares of common stock outstanding throughout the year. Also outstanding all year were 4,900 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share. Flint's tax rate is 30%. Compute Flint's 2020 diluted earnings per share?

Reference no: EM133049160

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