Bonita Corporation reported net income of $205,560 in 2025 and had 47,100 shares of common...
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Bonita Corporation reported net income of $205,560 in 2025 and had 47,100 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. Bonita's tax rate is 30%. Compute Bonita's 2025 diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.)
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Bonita Corporation reported net income of $205,560 in 2025 and had 47,100 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. Bonita's tax rate is 30%. Compute Bonita's 2025 diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) 