Oriole Corporation reported net income of $300.780 in 2025 and had 45,900 shares of common stock outstanding throughout the year. Also outstanding all year were 4,900 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share. Oriole's tax rate is 30%. Compute Oriole's 2025 diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) Diluted earnings per share $

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 24E
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Oriole Corporation reported net income of $300.780 in 2025 and had 45,900 shares of common stock outstanding throughout the
year. Also outstanding all year were 4,900 shares of cumulative preferred stock, each convertible into 2 shares of common. The
preferred stock pays an annual dividend of $5 per share. Oriole's tax rate is 30%.
Compute Oriole's 2025 diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.)
Diluted earnings per share
$
Transcribed Image Text:Oriole Corporation reported net income of $300.780 in 2025 and had 45,900 shares of common stock outstanding throughout the year. Also outstanding all year were 4,900 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share. Oriole's tax rate is 30%. Compute Oriole's 2025 diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) Diluted earnings per share $
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