tSheridan Company uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $358800 ($546480), purchases during the current year at cost (retail) were $1890600 ($3036000), freight-in totaled $118680, sales during the current year totaled $2760000, net markups were $66240 and net markdowns were $99360. What costs should be excluded from the cost to retail ratio? $99360. O $118680. $33120. O$66240.

At December 31, 2024, Pharoah Company had 1940000 shares of common stock outstanding. On Jaruary 1, 2025, Pharoah issued 506000 shares of preferred stock which were convertible into 1040000 shares of its common stock. In 2025, Pharoah declared and paid $1200000 cash dividends on the common stock and $394000 cash dividends on the preferred stock. Net income for the year ended December 31,2025 , was $5036200. Assuming an income tax rate of 30%, what was diluted earnings per share for the year ended December 31, 2025? $1.69 $2.18 $1.60 $2.60