Royce paid 200000 in preferred stock dividends in 2007 and, Ask an Expert

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Royce Co. had 2,400,000 shares of common stock outstanding on January 1 and December 31, 2007. In connection with the acquisition of a subsidiary company in June 2006, Royce is required to issue 100,000 additional shares of its common stock on July 1, 2008, to the former owners of the subsidiary. Royce paid $200,000 in preferred stock dividends in 2007, and reported net income of $3,400,000 for the year. what Royce's diluted earnings per share for 2007 should be?

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Accounting Basics, Accounting

Category:- Accounting Basics
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