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  1. business
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  3. during the current year. green corp. had the follo

During the current year. Green Corp. had the following two classes of stock issued and...

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Accounting

During the current year. Green Corp. had the following two classes of stock issued and outstanding for the entire year.

100,000 shares of common stock, $1 par

1,000 shares of 4% preferred stock, $100 par, convertible share for share into common stock. The stock is cumulative, whether or not earned, and no preferred dividends are in arrears.

Green's current-year net income was $900,000, and its income tax rate for the year was 30%. Diluted earnings per share for the current year are

$8.87

$8.91

$8.96

$9.00

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