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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Please help. Information from the financial statements of Ames Fabricators, Inc., included the following: December 31...
Please help.
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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...
Information concerning the capital structure of the Petrock Corporation is as follows: Common stock Convertible preferred stock 8%, $1,000 par, convertible bonds December 31 2016 2017 90,000 shares 90,000 shares 10,000 shares 10,000 shares $1,000,000 $1,000,000 During 2017, Petrock paid dividends of $1 per share on its common stock and $2.40 per share on its preferred stock. The preferred stock is convertible into 20,000 shares of common stock. The 8% convertible bonds are convertible into 30,000 shares of common stock....
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...
babam Q3 (15 marks). robots Information concerning the capital structure of the Acme Corporation is as follows: 151 S o us December 31st 2016 2017 100,000 100,000 Common stock (# of shares) Convertible preferred stock (# of shares) 8% convertible bonds 20,000 20,000 $1,000,000 $1,000,000 During 2017 Acme paid dividends of $1 per share on its C/S and $1.40 per share on preferred stock (P/S). The P/S is convertible into 40,000 shares of C/S. The 6% convertible bonds are convertible...
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...
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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