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What are basic and diluted eps for pittsburgh aeronautics

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Reference no: EM131619714

Problem -

Pittsburgh Aeronautics has 450,000 shares of common stock and 153,000 shares of non cumulative, convertible preferred stock outstanding throughout the year.

Pittsburgh declared $170,000 in dividends on the preferred shares. The preferred stock is convertible into common stock at a rate of one share of preferred stock for each share of common stock. Pittsburgh's net income for the year was $730,000. What are basic and diluted EPS for Pittsburgh Aeronautics.

Reference no: EM131619714

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