Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. current attempt in progress your answer is incorre

Current Attempt in Progress Your answer is incorrect. Ayayai Corporation reported net income of...

50.1K

Verified Solution

Question

Accounting

Current Attempt in Progress
Your answer is incorrect.
Ayayai Corporation reported net income of $256,960 in 2020 and had 47,400 shares of common stock outstanding throughout the year. Also outstanding all year were 5,500 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share. Ayayai's tax rate is 50%.
Compute Ayayai's 2020 diluted earnings per share. (Round answer to 2 decimal places, e.g.3.55.)
Diluted earnings per share $
eTextbook and Media
Last saved 10 minutes ago.
Attempts: 2 of 3 used
Saved work will be auto-submitted on the due date. Autosubmission can take up to 10 minutes.
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students