1) Cullumber Corporation had 2020 net income of $1,407,000. During 2020, Cullumber has not declared or...

1) Cullumber Corporation had 2020 net income of $1,407,000. During 2020, Cullumber has not declared or paid any dividend on 93,000 non-cumulative preferred shares. Cullumber also had 210,000 common shares outstanding during the year.

Calculate Cullumber’s 2020 earnings per share.

2) Sandhill Corporation reported net income of $347,760 in 2020 and had 245,000 common shares outstanding throughout the year. Also outstanding all year were 21,000 (written) options to purchase common shares at $10 per share. The average market price for the common shares during the year was $15 per share.

Calculate the diluted earnings per share

Expert Solution

ekkarill92 answered 2 years ago

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