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Problem 16-8 The information below pertains to Pearl Company for 2018.
$25 per share
There were no changes during 2018 in the number of common shares, preferred shares, or convertible bonds outstanding. There is no treasury stock. The company also has common stock options (granted in a prior year) to purchase 68,800 shares of common stock at $20 per share.
(a) Compute basic earnings per share for 2018. (Round answer to 2 decimal places, e.g. $2.55.)
Basic earnings per share$
(b) Compute diluted earnings per share for 2018. (Round answer to 2 decimal places, e.g. $2.55.)
Diluted earnings per share$
Net income = $1190000Dividend on preference shares =4000000*6%= 240000 Number of common stock outstanding =6280000/10=628000a Basic EPS = Net income-Preference Dividend/Common stock...