Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN: 9781337115773
Author: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher: Cengage Learning
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During 2016, QBE Inc. reported net income of $150,000 and had 100,000 shares of common stock and 1,000 shares of preferred stock outstanding for the entire year. QBE’s 10%, $100 par value preferred shares are each convertible into 40 shares of common stock. If the tax rate is 40%, what is the diluted EPS for this company? A.  $1.10 B.  $1.00 C.  $1.07 D.  $0.79
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