39. Marsh Co. had 2,400,000 shares outstanding at January 1 and December 31, 2011. In...
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39. Marsh Co. had 2,400,000 shares outstanding at January 1 and December 31, 2011. In connection of the purchase of a subsidiary in 2010, Marsh is required to issue 100,000 additional shares of its common stock on July 1, 2012, to the former owners of the subsidiary. Marsh paid 200,000 in preferred stock dividends in 2011, and reported net income of 3,400,000 for the year. Marsh's' diluted earnings per Share for 2011 should be:A. 1.42.B. 1.36.C. 1.33.D. 1.28.
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