Pakison, Inc. had 200,000 shares of $20 par common stock and 20,000 shares of $100 par, 6

Question:

Pakison, Inc. had 200,000 shares of $20 par and 20,000 shares of $100 par, 6 percent cumulative, convertible preferred stock outstanding for the entire year ended December 31, 2010. The preferred stock is convertible into 5 shares of . Parkison’s net income for 2010 was $840,000.
Diluted earnings per share as of December 31, 2010 was??

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...