Q 16.84: Velo Co. had 2,400,000 shares of common stock outstanding on January 1 and December 31, 2018. In connection with the acquisition of a subsidiary company in June 2017, Velo is required to issue 100,000 additional shares of its common stock on July 1, 2019, to the former owners of the subsidiary. Velo paid $100,000 in preferred stock dividends in 2018, and reported net income of $1,700,000 for the year. Which of the following represent Velo's diluted earnings per share for 2018? A $0.67 B $0.68 $0.65 D $0.71