Homework Answers
The basic earning per share is calculated as follows:
Basic EPS = (Net income after tax - Preferred dividend) / Outstanding shares
= ($2,520,000 - $0) / 10,000,000 shares
= $2,520,000 / 10,000,000 shares
= $0.252 per share
The diluted earning per share is calculated as follows:
Diluted EPS = (Net income after tax - Preferred dividend) / Outstanding shares
= ($2,520,000 - $0) / (10,000,000 shares + 2,000,000 shares)
= $2,520,000 / 12,000,000 shares
= $0.21 shares
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