Ahnberg corporation had 760,000 shares of common stock and issued and outstanding at january 1. no common shares were issued during the year, but on january 1, ahnberg issued 380,000 shares of convertible perferred stock. the preferred shares are convertible into 760,000 shares of common stock. during the year ahnberg paid 228,000 cash dividends on the preferred stock. Net income was 3,040,000. what were ahnberg's basic and diluted earning per share for the year?
Ahnberg corporation had 760,000 shares of common stock and issued and outstanding at january 1. no common shares were issued during the year, but on january 1, ahnberg issued 380,000 shares of convertible perferred stock. the preferred shares are convertible into 760,000 shares of common stock. during the year ahnberg paid 228,000 cash dividends on the preferred stock. Net income was 3,040,000. what were ahnberg's basic and diluted earning per share for the year?
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter13: Earnings Per Share (eps)
Section: Chapter Questions
Problem 1R: Ponce Towers, Inc., had 50,000 shares of common stock and 10,000 shares of 100 par value, 8%...
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Ahnberg corporation had 760,000 shares of common stock and issued and outstanding at january 1. no common shares were issued during the year, but on january 1, ahnberg issued 380,000 shares of convertible perferred stock. the
what were ahnberg's basic and diluted earning per share for the year?
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