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During Year7, Stinger Corporation had 90,000 shares of common stock and 5,000 shares of preferred...

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Accounting

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During Year7, Stinger Corporation had 90,000 shares of common stock and 5,000 shares of preferred stock outstanding. The preferred stock has a par value of$50 per share and a 6% noncumulative dr dend rate. The preferred stock is onvertible to 2,000 shares of common stock. None was converted during Year . Stnger declared and paid cash dividends of $30,000 on common stock Stinger also paid the annual dividend on the preferred stock Stinger's net income for Year7 was $600,000 1. What is the annual dividend on the preferred stock (n total, not per share)? 2. What is the numerator for a basic EPS computation for Year7? 3. What is basic EPS for Year7? 4. Compute EPS as if the preferred stock was converted to common stock as of 1/1ear 5. What does Stinger report as diluted EPS for Year

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