Zekany Corporation had 190,000 shares of common stock and 19,000 shares of 8%, $100 par convertible preferred stock outstanding during the year. Net income for the year was $490,000 and dividends were paid to both common and preferred shareholders. Zekany
Zekany Corporation had 190,000 shares of common stock and 19,000 shares of 8%, $100 par convertible preferred stock outstanding during the year. Net income for the year was $490,000 and dividends were paid to both common and preferred shareholders. Zekany's effective tax rate is 25%.
What is Zekany's basic EPS?
Homework Answers
490,000-(19,000*100*8%)= 338,000
338,000/190,000= 1.7789473684 or 1.78 answer
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