NO.PZ2024011002000024
问题如下：
An analyst collected data about a company as follows:
The preferred
stock can be converted to 10,000 common stocks, while the debt is not
convertible. The diluted earnings per share is closest to:
选项：
A.1.92
B.1.96
C.2.01
解释：
If the convertible preferred shares were converted to common stocks, there would be no preferred dividends paid. Thus, we should add back the convertible preferred dividends that had previously been subtracted from net income in the numerator.
Basic EPS = (net income – dividend from preferred stocks) / average weighted number of shares issued = (1,000,000 – 1,000,000×0.04) / 500,000= 1.92
Diluted EPS = (net income – dividend from preferred stocks+ dividend from preferred stocks) / (average weighted number of shares issued + shares from conversion of preferred stocks) = (1,000,000 – 1,000,000×0.04 + 1,000,000×0.04) / (500,000+10,000) = 1.96
1.96 > 1.92, diluted EPS is 1.92.
分子的意思是，basic EPS的时候是减去了优先股的红利，然后diluted EPS的时候是又加上了优先股转化的红利，是因为这里的优先股进行了转化所以加一个减一个抵消了嘛
