Business, 21.05.2020 22:03 laylay120

Crane Company had 206000 shares of common stock, 19400 shares of convertible preferred stock, and $1470000 of 6% convertible bonds outstanding during 2018. The preferred stock is convertible into 39000 shares or common stock. During 2015, Crane paid dividends of $1.00 per share on the common stock and $4 per share on the preferred stock. Each $1,000 bond is convertible into 30 shares of common stock. The net income for 2018 was $603000 and the income tax rate was 35%. Diluted earnings per share for 2018 is (rounded to the nearest penny) a. $2.10 b. $2.46. c. $2.28 d. $2.06

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Crane Company had 206000 shares of common stock, 19400 shares of convertible preferred stock, and $1...