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  3. problem 2 information from the financial statement

problem 2 Information from the financial statements of Henderson-Niles Industries included the following at December...

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problem 2 Information from the financial statements of Henderson-Niles Industries included the following at December 31, 2016 Common shares outstanding throughout the year 100 million Convertible preferred shares (convertible into 32 million shares of common) 60 million Convertible 10% bonds (convertible into 13.5 million shares of common) $900 million Henderson-Niles' net income for the year ended December 31, 2016, is $520 million. The income tax rate is 40%. Henderson-Niles paid dividends of $2 per share on its preferred stock during 2016. Required: Compute basic and diluted earnings per share for the year ended December 31, 2016. want text answer only

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