Business, 29.05.2021 15:40 lovelarissa

Soliman Corporation began the year 2018 with 25,000 shares of common stock and 5,000 shares of convertible preferred stock outstanding. On May I, an additional 9,000 shares of common stock were issued. On July I, 6,000 shares of common stock were acquired for the treasury. On September I, the 6,000 treasury shares of common stock were issued. The preferred stock has a $4 per-share dividend rate, and each share may be converted into two shares of common stock. Soliman Corporation's 2018 net income is $230,000. Required:
a. Compute earnings per share for 2018.
b. Compute diluted earnings per share for 2018.

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Soliman Corporation began the year 2018 with 25,000 shares of common stock and 5,000 shares of conve...

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