Lakeshore Gelato has 2 1 , 6 0 0 shares of common stock outstanding at the beginning
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Question:
Lakeshore Gelato has shares of common stock outstanding at the beginning of Y Lakeshore Gelato issued additional shares on May and additional shares on September It also has two convertible securities outstanding at the end of Y
Convertible preferred stock: shares of $ par, preferred stock were issued on January Y for $ per share. Each share of preferred stock is convertible into shares of common stock. Current dividends have been declared and paid. To date, no preferred stock has been converted.
Convertible bonds: Bonds with a face value of $ and an interest rate of were issued at par in Y Each $ bond is convertible into shares of common stock. To date, no bonds have been converted.
Lakeshore Gelato earned net income of $ during Y The income tax rate is
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Compute the Basic Earnings Per Share for Y
Compute the Diluted Earnings Per Share Y
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