Answer Happy

Use the following information to answer the next 4 clues. For the current year, a company had outstanding 60,520 shares of $1 par common stock and 325,760 shares of 5%, $7.50 par cumulative, convertible preferred stock. Each preferred share is convertible into 2 common shares. Net income was $1,765,211. 1. The numerator of the incremental effect of converting the preferred stock is: 2. The denominator of the incremental effect of converting the preferred stock is: The numerator of Diluted EPS is: The denominator of Diluted EPS is: 5. A company issued 20,000 shares of $1 par common stock for $20 cash. The company paid $13.964 in issue costs. The journal entry for issuance will include a credit to Paid-in Capital - Excess of Par for: 3. 4.