Calculate the Diluted earnings per share

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Question - Marigold Corp. had 208000 shares of common stock, 20400 shares of convertible preferred stock, and $1470000 of 6% convertible bonds outstanding during 2018. The preferred stock is convertible into 40300 shares of common stock. During 2015, Marigold paid dividends of $0.90 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 $594000 and the income tax rate was 35%.

Calculate the Diluted earnings per share for 2018?

$2.00.

$2.04.

$2.39.

$2.23.

Reference no: EM132280287

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