Business, 31.05.2021 17:10 seonna

During 2021, Sysco Corp. had 950,000 shares of common stock and 100,000 shares of 7% preferred stock outstanding. The preferred stock does not have cumulative or convertible features. Sysco declared and paid cash dividends of $400,000 and $200,000 to common and preferred shareholders, respectively, during 2021. On January 1, 2020, Sysco issued $2,100,000 of convertible 5% bonds at face value. Each $1,000 bond is convertible into five common shares. Sysco's net income for the year ended December 31, 2021, was $6.00 million. The income tax rate is 20%. What will Sysco report as diluted earnings per share for 2021, rounded to the nearest cent? a. None of these answer choices are correct
b. 56.25
c. $6.03
d. $6.35

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During 2021, Sysco Corp. had 950,000 shares of common stock and 100,000 shares of 7% preferred stock...

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