Information from the financial statements of Ames Fabricators,
Inc., included the following:
December 31 | ||||||||
2018 | 2017 | |||||||
Common shares | 100,000 | 100,000 | ||||||
Convertible preferred shares (convertible into 46,000 shares of common) |
20,400 | 20,400 | ||||||
10% convertible bonds (convertible into 20,000 shares of common) |
$ | 1,000,000 | $ | 1,000,000 | ||||
Ames’s net income for the year ended December 31, 2018, is
$640,000. The income tax rate is 40%. Ames paid dividends of $5 per
share on its preferred stock during 2018.
Required:
Compute basic and diluted earnings per share for the year ended December 31, 2018. (Enter your answers in thousands.)
|
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018 2017 Common shares 100,000 100,000 Convertible preferred shares (convertible into 46,000 shares of common) 20,400 20,400 10% convertible bonds (convertible into 20,000 shares of common) $ 1,000,000 $ 1,000,000 Ames’s net income for the year ended December 31, 2018, is $640,000. The income tax rate is 40%. Ames paid dividends of $5 per share on its preferred stock during 2018. Required: Compute basic and...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018 2017 Common shares 100,000 100,000 Convertible preferred shares (convertible into 42,000 shares of common) 18,000 18,000 106 convertible bonds (convertible into 20,000 shares of common) $1,000,000 $1,000,000 Ames's net income for the year ended December 31, 2018, is $600,000. The income tax rate is 40%. Ames paid dividends of $5 per share on its preferred stock during 2018 Required: Compute basic and diluted earnings per...
Please help. Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018 2017 100,000 100,000 Common shares Convertible preferred shares (convertible into 42,000 shares of common) 10% convertible bonds (convertible into 20,000 shares of common) 18,000 18,000 $1,000,000 $1,000,000 Ames's net income for the year ended December 31, 2018, is $600,000. The income tax rate is 40%. Ames paid dividends of $5 per share on its preferred stock during 2018. Required: Compute basic and diluted...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018 2017 Common shares 100,000 100,000 Convertible preferred shares (convertible into 38,000 shares of common) 15,600 15,600 10% convertible bonds (convertible into 20,000 shares of common) $ 1,000,000 $ 1,000,000 Ames’s net income for the year ended December 31, 2018, is $560,000. The income tax rate is 40%. Ames paid dividends of $5 per share on its preferred stock during 2018. Required: Compute basic and...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2021 2020 100,000 100,000 Common shares Convertible preferred shares (convertible into 46,000 shares of common) 8% convertible bonds (convertible into 30,000 shares of common) 16,800 16,800 $1,000,000 $1,000,000 Ames's net income for the year ended December 31, 2021, is $580,000. The income tax rate is 25%. Ames paid dividends of $5 per share on its preferred stock during 2021. Required: Compute basic and diluted earnings per...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2021 2020 Common shares 100,000 100,000 Convertible preferred shares (convertible into 78,000 shares of common) 30,000 30,000 8% convertible bonds (convertible into 30,000 shares of common) $1,000,000 $1,000,000 Ames's net income for the year ended December 31, 2021, is $800,000. The income tax rate is 25%. Ames paid dividends of $5 per share on its preferred stock during 2021. Required: Compute basic and diluted earnings per...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2021 2020 Common shares 100,000 100,000 Convertible preferred shares (convertible into 78,000 shares of common) 30,000 30,000 8% convertible bonds (convertible into 30,000 shares of common) $1,000,000 $1,000,000 Ames's net income for the year ended December 31, 2021, is $800,000. The income tax rate is 25%. Ames paid dividends of $5 per share on its preferred stock during 2021. Required: Compute basic and diluted earnings per...
looking for dileted EPS numerator and pls show work..thanks Information from the financial statements of Ames Fabricators, Inc, included the following: December 31 2018 2017 100,000 100,000 Common shares Convertible preferred shares (convertible into 64,000 shares of common) 10% convertible bonds (convertible into 20,000 shares of common) 31,200 31,200 $1,000,000 $1,000,000 Ames's net income for the year ended December 31, 2018, is $820,000. The income tax rate is 400 Ames paid dividends of $5 per share on its preferred stock...
Information from the financial statements of Ames Fabricators, Incorporated included the following:December 3120242023Common shares100,000100,000Convertible preferred shares (convertible into 68,000 shares of common)26,40026,4008% convertible bonds (convertible into 30,000 shares of common)$ 1,000,000$ 1,000,000Ames’s net income for the year ended December 31, 2024, is $740,000. The income tax rate is 25%. Ames paid dividends of $5 per share on its preferred stock during 2024.Required:Compute basic and diluted earnings per share for the year ended December 31, 2024.Note: Do not round intermediate calculations....
Exercise 19-21 EPS; convertible preferred stock; convertible bonds; order of entry [LO19-7, 19-9] Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018 2017 100,000 100,000 Common shares Convertible preferred shares (convertible into 34,000 shares of common) 10% convertible bonds (convertible into 20,000 shares of common) 13,200 13,200 $1,000,000 $1,000,000 Ames's net income for the year ended December 31, 2018, is $520,000. The income tax rate is 40%. Ames paid dividends of $5 per share...