Homework Answers
Answer- Diluted earnings per share = $3.4 per share.
Explanation- Diluted earnings per share =Profit attributable to common stockholders/( Weighted average number of common shares outstanding during the period+ All dilutive potential common stock)
= $213860/(53900 shares+9000 shares)
= $213860/62900 shares
= $3.4 per share
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Brief Exercise 16-14 Nash Corporation reported net income of $213,860 in 2017 and had 53,00 shares...
Brief Exercise 16-13 Waterway Corporation camed net income of $370,000 in 2017 and had 104,000 shares of common sto...
Brief Exercise 16-13 Waterway Corporation camed net income of $370,000 in 2017 and had 104,000 shares of common stock outstanding throughout the year. Also outstanding 9% bonds, which are convertible into 19,000 shares of common. Waterway's tax rate is 30 percent. year was 10,000 of Compute Waterway's 2017 diluted earnings per share. (Round answer to 2 decimal places, e.. 3.55.) Diluted earnings per share Click if you would like to show Work for this question Open Show Work
Brief Exercise 16-13 Rockland Corporation earned net income of $300,000 in 2017 and had 100,000 shares...
Brief Exercise 16-13
Rockland Corporation earned net income of $300,000 in 2017 and
had 100,000 shares of common stock outstanding throughout the year.
Also outstanding all year was $800,000 of 9% bonds, which are
convertible into 16,000 shares of common. Rockland’s tax rate is 40
percent.
Compute Rockland’s 2017 diluted earnings per share.
(Round answer to 2 decimal places, e.g.
3.55.)
Diluted earnings per share
$
Shamrock Corporation reported net income of $300,780 in 2017 and had 45,900 shares of common stock...
Shamrock Corporation reported net income of $300,780 in 2017 and had 45,900 shares of common stock outstanding throughout the year. Also outstanding all year were 4,900 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share. Shamrock’s tax rate is 30%. Compute Shamrock’s 2017 diluted earnings per share. (
Brief Exercise 16-15 Marigold Corporation reported net income of $421,590 in 2017 and had 203,000 shares...
Brief Exercise 16-15 Marigold Corporation reported net income of $421,590 in 2017 and had 203,000 shares of common stock outstanding throughout the year. Also outstanding all year were 49,500 options to purchase common stock at $11 per share. The average market price of the stock during the year was $15. Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) Diluted earnings per share
Sage Corporation reported net income of $231,840 in 2020 and had 186,000 shares of common stock...
Sage Corporation reported net income of $231,840 in 2020 and had 186,000 shares of common stock outstanding throughout the year. Also outstanding all year were 58,500 options to purchase common stock at $11 per share. The average market price of the stock during the year was $15. Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) Diluted earnings per share $ Pearl Corporation reported net income of $213,860 in 2020 and had 53,900 shares of common...
Riverbed Corporation reported net income of $259,140 in 2020 and had 52,100 shares of common stock...
Riverbed Corporation reported net income of $259,140 in 2020 and
had 52,100 shares of common stock outstanding throughout the year.
Also outstanding all year were 4,800 shares of cumulative preferred
stock, each convertible into 2 shares of common. The preferred
stock pays an annual dividend of $5 per share. Riverbed’s tax rate
is 40%.
Compute Riverbed’s 2020 diluted earnings per share.
(Round answer to 2 decimal places, e.g.
3.55.)
Diluted earnings per
share
$
On January 1, 2017, Nash Company issued 10-year, $1,860,000 face value, 6% bonds, at par. Each $1,000 bond is convertib...
On January 1, 2017, Nash Company issued 10-year, $1,860,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 15 shares of Nash common stock. Nash's net income in 2017 was $302,000, and its tax rate was 40%. The company had 92,000 shares of common stock outstanding throughout 2017. None of the bonds were converted in 2017. (a) Compute diluted earnings per share for 2017. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share t...
Bridgeport Corporation earned net income of $466,800 in 2020 and had 91,000 shares of common stock...
Bridgeport Corporation earned net income of $466,800 in 2020 and had 91,000 shares of common stock outstanding throughout the year. Also outstanding all year was $850,000 of 5% bonds, which are convertible into 19,000 shares of common. Bridgeport’s tax rate is 20 percent. Compute Bridgeport’s 2020 diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) Diluted earnings per share $enter diluted earnings per share in dollars rounded to 2 decimal places Please show work so I can...
3. Dulcinea Corporation had $750,000 of net income in 2019. On January 1, 2019, there were...
3. Dulcinea Corporation had $750,000 of net income in 2019. On January 1, 2019, there were 200,000 shares of common stock outstanding. On April 1, 16,000 shares were issued. On July 1, Dulcinea issued a 10% stock dividend and on September 1. Dulcinea bought 20,000 shares of treasury stock. The market price of the common stock averaged $40 during 2019. The tax rate is 40%. During 2019, there were 10.000 shares of cumulative, convertible preferred stock outstanding. The preferred is...
Ivanhoe Corporation earned net income of $275,800 in 2020 and had 116,000 shares of common stock...
Ivanhoe Corporation earned net income of $275,800 in 2020 and
had 116,000 shares of common stock outstanding throughout the year.
Also outstanding all year was $900,000 of 9% bonds, which are
convertible into 17,000 shares of common. Ivanhoe’s tax rate is 30
percent.
Compute Ivanhoe’s 2020 diluted earnings per share.
(Round answer to 2 decimal places, e.g.
3.55.)
Diluted earnings per
share
$
Brief Exercise 16-13 Waterway Corporation camed net income of $370,000 in 2017 and had 104,000 shares of common stock outstanding throughout the year. Also outstanding 9% bonds, which are convertible into 19,000 shares of common. Waterway's tax rate is 30 percent. year was 10,000 of Compute Waterway's 2017 diluted earnings per share. (Round answer to 2 decimal places, e.. 3.55.) Diluted earnings per share Click if you would like to show Work for this question Open Show Work
Brief Exercise 16-13
Rockland Corporation earned net income of $300,000 in 2017 and
had 100,000 shares of common stock outstanding throughout the year.
Also outstanding all year was $800,000 of 9% bonds, which are
convertible into 16,000 shares of common. Rockland’s tax rate is 40
percent.
Compute Rockland’s 2017 diluted earnings per share.
(Round answer to 2 decimal places, e.g.
3.55.)
Diluted earnings per share
$
Sage Corporation reported net income of $231,840 in 2020 and had 186,000 shares of common stock outstanding throughout the year. Also outstanding all year were 58,500 options to purchase common stock at $11 per share. The average market price of the stock during the year was $15. Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) Diluted earnings per share $ Pearl Corporation reported net income of $213,860 in 2020 and had 53,900 shares of common...
Riverbed Corporation reported net income of $259,140 in 2020 and
had 52,100 shares of common stock outstanding throughout the year.
Also outstanding all year were 4,800 shares of cumulative preferred
stock, each convertible into 2 shares of common. The preferred
stock pays an annual dividend of $5 per share. Riverbed’s tax rate
is 40%.
Compute Riverbed’s 2020 diluted earnings per share.
(Round answer to 2 decimal places, e.g.
3.55.)
Diluted earnings per
share
$
On January 1, 2017, Nash Company issued 10-year, $1,860,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 15 shares of Nash common stock. Nash's net income in 2017 was $302,000, and its tax rate was 40%. The company had 92,000 shares of common stock outstanding throughout 2017. None of the bonds were converted in 2017. (a) Compute diluted earnings per share for 2017. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share t...
3. Dulcinea Corporation had $750,000 of net income in 2019. On January 1, 2019, there were 200,000 shares of common stock outstanding. On April 1, 16,000 shares were issued. On July 1, Dulcinea issued a 10% stock dividend and on September 1. Dulcinea bought 20,000 shares of treasury stock. The market price of the common stock averaged $40 during 2019. The tax rate is 40%. During 2019, there were 10.000 shares of cumulative, convertible preferred stock outstanding. The preferred is...
Ivanhoe Corporation earned net income of $275,800 in 2020 and
had 116,000 shares of common stock outstanding throughout the year.
Also outstanding all year was $900,000 of 9% bonds, which are
convertible into 17,000 shares of common. Ivanhoe’s tax rate is 30
percent.
Compute Ivanhoe’s 2020 diluted earnings per share.
(Round answer to 2 decimal places, e.g.
3.55.)
Diluted earnings per
share
$
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