Business, 15.04.2020 00:07, camiee13dvivvj

Assume that the following data relative to Kane Company for 2018 is available: Net Income $2,100,000 Weighted Averaged # of Common Shares 1,340,000 6% Cumulative Convertible Preferred Stock Sold at par, convertible into 200,000 shares of common $1,000,000 Stock Options Exercisable at the option price of $25 per share. Average market price of shares in 2018 was $30 90,000 shares Question: How would the preferred stock impact the Basic Earnings Per Share Calculation? Preferred stock of $1M would be subtracted from the numerator Preferred shares of 200,000 would be subtracted from the denominator No impact Preferred dividends of $60,000 would be subtracted from the numerator

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Assume that the following data relative to Kane Company for 2018 is available: Net Income $2,100,000...