Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. red cab company had 66,000 shares of common stock

Red Cab Company had 66,000 shares of common stock outstanding on January 1, 2021. On...

60.1K

Verified Solution

Question

Accounting

Red Cab Company had 66,000 shares of common stock outstanding on January 1, 2021. On April 1, 2021, the company issued 36,000 shares of common stock. The company had outstanding fully vested incentive stock options for 13,000 shares exercisable at $11 that had not been exercised by its executives. The end-of-year market price of common stock was $29 while the average price for the year was $28. The company reported net income in the amount of $349,915 for 2021. What is the diluted earnings per share (rounded)?

A) $3.43.

B) $3.04.

C) $3.47.

D) $3.93.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

10.4 Comparing two means: Paired samples \"We want to know if there is a difference between...

Statistics
Q

Textbook not required. The case study is posted on this post. All I'm requesting is to...

Psychology
Q

In class we discussed the disputed election that ended up in the case DeMartini v. Power,...

Basic Math
Q

9 In a resonance tube experiment tube has radius of 3 cm then its end...

Physics
Q

Find the mean median mode and standard deviation for the given frequency distribution Score x...

Geometry
Q

Which is true about multiplying integers?The product of integer multiplication is always negative.If there is...

Basic Math
Q

Quilcene Oysteria farms and sells oysters in the...

Accounting
Q

iompany was organized on January 1, 2022, it is authorized to...

Accounting
Q

Pearson Corp decided to go into the market to repurchase and retire their bond before...

Accounting
Q

On January 1,2024, a company began construction of a new warehouse. The building was finished...

Accounting
Q

Trust W, a simple trust, has taxable interest of $5,000, tax-exempt interest of $10,000, and...

Accounting
Q

2. Selected financial statements from Syarikat Adam, for the year end are as below. ...

Accounting