Green Thumb, Inc. had 18,000 shares of common stock outstanding on January 1. An additional 6,000 shares were issued on May 1. The company also
Green Thumb, Inc. had 18,000 shares of common stock outstanding on January 1. An additional 6,000 shares were issued on May 1. The company also had 1,000 shares of 5.5%, $100 par, convertible preferred stock outstanding during the year. Each share is convertible into 8 shares of common stock. Net income for the year was $82,500. Required: Compute the appropriate earnings per share amount(s) that would appear on the Green Thumb’s income statement. If required, round your answers to two decimal places. Basic earnings per share ________ Diluted earnings per share ________
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