What should waterway report as diluted earnings per share

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Waterway Industries purchased Carla Vista Co. and agreed to give stockholders of Carla Vista Co. 9200 additional shares in 2020 if Carla Vista Co.'s net income in 2019 is $501000; in 2018 Carla Vista Co.'s net income is $521000. Waterway Industries has net income for 2018 of $453000 and has an average number of common shares outstanding for 2018 of 99000 shares. What should Waterway report as diluted earnings per share for 2018? (rounded to the nearest penny)

Reference no: EM132421218

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