(Answered) Question - assume that the following data relate to rosen

Accounting

Question - Assume that the following data relate to Rosen, Inc. for the year 2013:

Net income (30%tax rate)...........................................$3,000,000.

Average common shares outstanding 2013...................$1,000,000 shares

10% cumulative convertible preferred stock: Convertible inro 80,000 shares of common ................$1,600,000.

8% convertible bonds; convertible into 75,000 share of common.................$$2,500,000

Stock Options: Excercisable at the option price of $25 per share: Average maket price in 2013, $30---------------------------------84,000 shares

Instructions: Compute (a) basic earnigs per share, and (b) diluted earning per share.

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