Riverbed Corporation reported net income of $259,140 in 2020 and had 52,100 shares of common stock...
Riverbed Corporation reported net income of $259,140 in 2020 and
had 52,100 shares of common stock outstanding throughout the year.
Also outstanding all year were 4,800 shares of cumulative preferred
stock, each convertible into 2 shares of common. The preferred
stock pays an annual dividend of $5 per share. Riverbed’s tax rate
is 40%.
Compute Riverbed’s 2020 diluted earnings per share.
(Round answer to 2 decimal places, e.g.
3.55.)
| Diluted earnings per share | $
|
Homework Answers
Basic earning per share = (259140-4800*5)/52100 = 4.51 per share
Diluted earning per share = Adjusted net income/Adjusted shares = 259140/(4800*2+52100) = 4.20 per share
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Riverbed Corporation reported net income of $259,140 in 2020 and
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(Round answer to 2 decimal places, e.g.
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Compute Martinez’s 2020 diluted earnings per share.
(Round answer to 2 decimal places, e.g.
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(Round answer to 2 decimal places, e.g.
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(Round answer to 2 decimal places, e.g.
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