Homework Answers
Basic EPS = (Net Income - Preferred dividend) / No. of common stock
2018 = (600000 - 18000*5) / 100000 = $5.10 per share
Diluted EPS = (Net Income + Interest saving net of tax) / (Weighted average outstanding common share + potential common shares)
= (600000 + 1000000*10%*60%) / (100000+42000+20000)
= $4.07 per share
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Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018 2017...
Please help. Information from the financial statements of Ames Fabricators, Inc., included the following: December 31...
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...
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...
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 2021 2020...
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...
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...
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 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 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...
looking for dileted EPS numerator and pls show work..thanks Information from the financial statements of Ames...
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...
Exercise 19-21 EPS; convertible preferred stock; convertible bonds; order of entry [LO19-7, 19-9] Information from the...
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...
Exercise 19-21 EPS; convertible preferred stock; convertible bonds; order of entry [LO19-7, 19-9) Information from...
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 68,000 shares of common) 10% convertible bonds (convertible into 20,000 shares of common) 33,600 33,600 $1,800,000 $1,000,000 Ames's net income for the year ended December 31, 2018. is $860,000. The income tax rate is 40%. Ames paid dividends of $5 per share...
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 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...
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...
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 68,000 shares of common) 10% convertible bonds (convertible into 20,000 shares of common) 33,600 33,600 $1,800,000 $1,000,000 Ames's net income for the year ended December 31, 2018. is $860,000. The income tax rate is 40%. Ames paid dividends of $5 per share...
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