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Earnings Per Share-Basic and Diluted

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Earnings per share-basic and diluted
Stainless Corporation had net income of $7,800,000 in 2018.The company had 500,000 shares of $4 par value common stock and 70,000 shares of 8%,$100 par,preferred stock outstanding throughout the year.Each share of preferred stock is both cumulative and convertible.Each share of preferred stock is convertible into two shares of common stock.Compute the following for 2018:
Earnings per share-basic and diluted Stainless Corporation had net income of $7,800,000 in 2018.The company had 500,000 shares of $4 par value common stock and 70,000 shares of 8%,$100 par,preferred stock outstanding throughout the year.Each share of preferred stock is both cumulative and convertible.Each share of preferred stock is convertible into two shares of common stock.Compute the following for 2018:

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(a)500,000
(b)500,000 + (2 × 7...

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