Windsor Corporation reported net income of $197,880 in 2025 and had 48,200 shares of common stock outstanding throughout the year. Also outstanding all year were 5,000 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share. Windsor's tax rate is 40%. Compute Windsor's 2025 diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) Diluted earnings per share $

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Windsor Corporation reported net income of $197,880 in 2025 and had 48,200 shares of common stock outstanding throughout the
year. Also outstanding all year were 5,000 shares of cumulative preferred stock, each convertible into 2 shares of common. The
preferred stock pays an annual dividend of $5 per share. Windsor's tax rate is 40%.
Compute Windsor's 2025 diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.)
Diluted earnings per share $
Transcribed Image Text:Windsor Corporation reported net income of $197,880 in 2025 and had 48,200 shares of common stock outstanding throughout the year. Also outstanding all year were 5,000 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share. Windsor's tax rate is 40%. Compute Windsor's 2025 diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) Diluted earnings per share $
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