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What is the diluted earnings per share

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Reference no: EM132893841

Question - Aladdin Ltd. has 48,000 common stocks at the beginning of the year 2020. On 1 April, additional shares of 12,600 were issued. There were also in issued 5,000 preferred stocks, with each convertible into 3 common stocks. Preferred dividends amounting to $14,000 were declared on the preferred stocks. The company reported earnings of $224,000 and declared $54,000 common stocks dividends for the year ending 31 December 2020. What is the diluted earnings per share?

a. £2.79

b. £4.67

c. £2.37

d. £3.09

Reference no: EM132893841

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