Hello, the answer is $3.64
Can someone please explain this step by step? I have tried this problem several times with no luck.
Homework Answers
basic earning per share = (800000-20000*2.50)/200000 = 3.75 per share
Diluted earning per share when both are convertible = (800000+70000)/230000 = 3.78 per share
Diluted earning per share when bonds convertible = (800000-50000+70000)/210000 = 3.90 per share
Diluted earning per share when preferred share convertible = 800000/220000 = 3.64
So answer is a) $3.64
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Hello, the answer is $3.64
Can someone please explain this step by step? I have tried...
$3.64 is the correct answer, but I am very confused how to solve. Could someone please...
$3.64 is the correct answer, but I am very confused how to
solve. Could someone please help? Thank you.
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$3.64 is the correct answer, but I am very confused how to
solve. Could someone please help? Thank you.
Jostens Co. had 200,000 shares of common stock, 20,000 shares of convertible preferred stock, and $1,000,000 of 10% bonds outstanding during 2017. The preferred stock is convertible into 20,000 shares of common stock. During 2017, Jostens paid dividends of $1.20 per share on its common stock and $2.50 per share on its preferred stock. Each $1,000 bond is convertible into 10...
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Please help.
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At December 31, 2017, Crane Company had 1120000 shares of common
stock outstanding. In addition, Crane had 455000 shares of
preferred stock which were convertible into 759000 shares of common
stock. During 2018, Crane paid $1250000 cash dividends on the
common stock and $796000 cash dividends on the preferred stock. Net
income for 2018 was $6800000 and the income tax rate was 40%. The
diluted earnings per share for 2018 is (rounded to the nearest
penny)
$2.55.
$3.62.
$6.06.
$5.40.
XYZ Company had 200,000 shares of common stock outstanding on December 31, 2017. On July 1, 2018, XYZ issued an additional 45,000 shares for cash. On January 1, 2018, XYZ issued 15,000 shares of convertible preferred stock. The preferred stock had a par value of $100 per share and paid a 5% dividend. Each share of preferred stock is convertible into 8 shares of common. During 2018 XYZ paid the regular annual dividend on the preferred and common stock. Net...
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