Business, 19.12.2019 23:31 2002boo13

During 2018, angel corporation had 900,000 shares of common stock and 50,000 shares of 6% preferred stock outstanding. the preferred stock does not have cumulative or convertible features. angel declared and paid cash dividends of $300,000 and $150,000 to common and preferred shareholders, respectively, during 2018. on january 1, 2017, angel issued $2,000,000 of convertible 5% bonds at face value. each $1,000 bond is convertible into five common shares. angel's net income for the year ended december 31, 2018, was $6 million. the income tax rate is 20%. what is angel's basic earnings per share for 2018, rounded to the nearest cent?

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During 2018, angel corporation had 900,000 shares of common stock and 50,000 shares of 6% preferred...

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