Information from the financial statements of Topps Fambricators, Inc., Included the following : Common shares 100,000 Convertible preferred shares $100 par, 5% (convertible into 36,000 shares of common) 12,000 10% convertible bonds (convertible into 25,000 shares of common) $1,000,000 Stock options for 120,000 shares of common stock (option price of $20 per share; market price of $25 per share) Topps's net income for the year ended December 31,2018, is $680,000. The income tax rate is 40%. Topps paid dividends of $5 per share on its preferred stock during 2018. Compute basic and diluted earnings per share for the year ended December 31, 2018
The basic earnings per share is $6.20. I can't get diluted earnings per share.
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