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Question - Vaughn Manufacturing had 198000 shares of common stock, 20200 shares of convertible preferred stock, and $1530000 of 4% convertible bonds outstanding during 2021. The preferred stock is convertible into 40800 shares of common stock. During 2021, Vaughn paid dividends of $1.00 per share on the common stock and $3 per share on the preferred stock. Each $1,000 bond is convertible into 30 shares of common stock. The net income for 2021 was $594000 and the income tax rate was 35%.
Required - Determine the Diluted earnings per share for 2021?
a. $2.23.
b. $2.06.
c. $2.10.
d. $2.49.
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The difference between a profit center and an investment center is
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