Compute xyz basic and diluted eps

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Reference no: EM132088242

Question: XYZ Corp. reported net income of $350,000 in 2015 and had 50,000 shares of common stock outstanding throughout the year. Also outstanding all year were 5,000 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share. Compute XYZ's basic and diluted EPS.

Reference no: EM132088242

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