Quinn paid 300000 in preferred stock dividends in 2010 and, Ask an Expert

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Quinn Co, had 2,400,000 shares of common stock outstanding on January 1 and December 31, 2010. In connection with the acquisition of a subsidiary company in June 2009, Quinn is required to issue 100,000 additional shares of its common stock on July 1, 2011, to the former owners of the subsidiary. Quinn paid $300,000 in preferred stock dividends in 2010, and reported net income of $5,100,000 for the year. Quinn's diluted earnings per share for 2010 should be:

a. $2.13

b. $2.04

c. $2.00

d. $1.92

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9436869

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