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BMS Ltd. had 2,200,000 average shares outstanding during all of 2017. During 2017, BMS also had 50,000 options outstanding with exercise prices of $17 each.
BMS Ltd. had 2,200,000 average shares outstanding during all of 2017. During 2017, BMS also had 50,000 options outstanding with exercise prices of $17 each. The average stock price of BMS during 2017 was $21. This company also had 1,000 shares of preferred stock outstanding (10%, $100 par value) for the entire year, which are each convertible into 20 shares of common stock. If net income of the company was 500,000, what is the diluted earnings per share for 2017? $0.224 $0.226 $0.220 $0.225
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