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How much is basic earnings per share amount

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Problem 1: Creekside Company reported net income of $1,868 million in 2011. The weighted average number of common shares outstanding during 2011 was 524 million shares. Creekside paid $50 million in dividends to preferred stocks, which was convertible into 25 million shares of common stocks. How much is basic earnings per share amount for 2011? (round to two decimal points)

A) $3.40
B) $3.56
C) $3.47
D) $3.31

Reference no: EM132708465

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