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Each share of preferred stock is convertible

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Reference no: EM13869291

Given the following year-end information, compute Green Corporation's basic and diluted earnings per share.

Net income, $5,000.

The income tax rate, 30%.

1,000 shares of common stock were outstanding the entire year.

200 shares of 10%, $50 par (and issuance price) convertible preferred stock were outstanding the entire year. $1,000 dividends were declared on this stock during the year. Each share of preferred stock is convertible into 5 shares of common stock.

Reference no: EM13869291

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