Question
At December 31, 2024, MedX Corporation had outstanding 200,000 shares of common stock. Also outstanding were 120,000 shares of preferred stock convertible into 64,000 common
At December 31, 2024, MedX Corporation had outstanding 200,000 shares of common stock. Also outstanding were 120,000 shares of preferred stock convertible into 64,000 common shares and $1,800,000 of 10% bonds convertible into 27,000 common shares. MedX's net income for the year ended December 31, 2024, is $1,040,000. The income tax rate is 25%. MedX paid dividends of $2 per share on its preferred stock during 2024. Required: Compute basic and diluted earnings per share for the year ended December 31, 2024, considering possible antidilutive effects. Note: Round your answers to 2 decimal places. diluted eps is the one i need the real answer is not $4.04 per share
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