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At December 3 1 , 2 0 2 1 , Retriever Ltd . had 2 , 0 0 0 , 0 0 0 common shares

At December 31,2021, Retriever Ltd. had 2,000,000 common shares
outstanding. On January 1,2022, Retriever issued 500,000 noncumulative
preferred shares, which were convertible into 1,000,000
common shares. During 2022, Retriever paid cash dividends of
$900,000 to the common shares and $300,000 to the preferred
shares. Net income for calendar 2022, was $6,000,000. Assuming an
income tax rate of 30%, the diluted earnings per share for 2022 is
A) $1.80.
B) $2.00.
C) $2.80.
D) $3.00.

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