Red Cab Company had 66,000 shares of common stock outstanding on January 1, 2021. On...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Red Cab Company had 66,000 shares of common stock outstanding on January 1, 2021. On April 1, 2021, the company issued 36,000 shares of common stock. The company had outstanding fully vested incentive stock options for 13,000 shares exercisable at $11 that had not been exercised by its executives. The end-of-year market price of common stock was $29 while the average price for the year was $28. The company reported net income in the amount of $349,915 for 2021. What is the diluted earnings per share (rounded)?
A) $3.43.
B) $3.04.
C) $3.47.
D) $3.93.
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: Zin AI - Your personal assistant for all your inquiries!
