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E16.25 (LO5) (EPS wit Company issued 10-year. S: 15 shares of Crocker ce 20%. The company...
(EPS with Convertible Bonds and Preferred Stock) On January 1, 2020, Crocker Company issued 10-year, $2,000,000...
(EPS with Convertible Bonds and Preferred Stock) On January 1, 2020, Crocker Company issued 10-year, $2,000,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 15 shares of Crocker common stock. Crocker's net income in 2020 was $400,000, and its tax rate was 20%. The company had 100,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. Question: Compute basic and diluted EPS assuming $400,000 net income, 100,000 weighted avg shares...
On January 1, 2020, Marigold Company issued 10-year $1,900,000 face value, 6% bonds, at par. Each...
On January 1, 2020, Marigold Company issued 10-year $1,900,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 14 shares of Marigold common stock, Marigold's net income in 2020 was $448,200, and its tax rate was 20%. The company had 108,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. cess (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, es $2.55.) Diluted earnings per share...
On January 1, 2020, Pina Company issued 10-year, $2,200,000 face value, 6% bonds, at par. Each...
On January 1, 2020, Pina Company issued 10-year, $2,200,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 14 shares of Pina common stock. Pina's net income in 2020 was $451,050, and its tax rate was 20%. The company had 97,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share &...
On January 1, 2020, Cullumber Company issued 10-year, $1,810,000 face value, 6% bonds, at par. Each...
On January 1, 2020, Cullumber Company issued 10-year, $1,810,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 15 shares of Cullumber common stock. Cullumber's net income in 2020 was $403,200, and its tax rate was 20%. The company had 96,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share $...
On January 1, 2020, Cullumber Company issued 10-year, $1,810,000 face value, 6% bonds, at par. Each...
On January 1, 2020, Cullumber Company issued 10-year, $1,810,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 15 shares of Cullumber common stock. Cullumber's net income in 2020 was $403,200, and its tax rate was 20%. The company had 96,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share $...
On January 1, 2020, Grouper Company issued 10-year, $1,980,000 face value, 6% bonds, at par. Each...
On January 1, 2020, Grouper Company issued 10-year, $1,980,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 15 shares of Grouper common stock. Grouper's net income in 2020 was $479,400, and its tax rate was 20%. The company had 102,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share $...
16.2 #2 PLEASE SHOW ALL WORK On January 1, 2020, Marigold Company issued 10-year, $2,060,000 face...
16.2 #2 PLEASE SHOW ALL WORK
On January 1, 2020, Marigold Company issued 10-year, $2,060,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 15 shares of Marigold common stock. Marigold's net income in 2020 was $535,600, and its tax rate was 20%. The company had 103,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g....
On January 1, 2020, Culver Company issued 10-year, $1,840,000 face value, 6% bonds, at par. Each...
On January 1, 2020, Culver Company issued 10-year, $1,840,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 16 shares of Culver common stock. Culver's net income in 2020 was $473,800, and its tax rate was 20%. The company had 103,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, eg. $2.55.) Diluted earnings per share $...
On January 1, 2020, Riverbed Company issued 10-year, $2,150,000 face value, 6% bonds, at par. Each...
On January 1, 2020, Riverbed Company issued 10-year, $2,150,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 16 shares of Riverbed common stock. Riverbed’s net income in 2020 was $518,950, and its tax rate was 20%. The company had 97,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share $enter...
E16.22 (LO 5) (EPS with Convertible Bonds, Various Situations) In 2019, Chirac Enterprises issued, at par,...
E16.22 (LO 5) (EPS with Convertible Bonds, Various Situations) In 2019, Chirac Enterprises issued, at par, 60 $1,000, 8% bonds, each convertible into 100 shares of common stock. Chirac had revenues of $17,500 and expenses other than interest and taxes of $8,400 for 2020. (Assume that the tax rate is 20%.) Throughout 2020, 2,000 shares of common stock were outstanding; none of the bonds was converted or redeemed. Instructions a. Compute diluted earnings per share for 2020. b. Assume the same facts...
On January 1, 2020, Marigold Company issued 10-year $1,900,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 14 shares of Marigold common stock, Marigold's net income in 2020 was $448,200, and its tax rate was 20%. The company had 108,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. cess (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, es $2.55.) Diluted earnings per share...
On January 1, 2020, Pina Company issued 10-year, $2,200,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 14 shares of Pina common stock. Pina's net income in 2020 was $451,050, and its tax rate was 20%. The company had 97,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share &...
On January 1, 2020, Cullumber Company issued 10-year, $1,810,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 15 shares of Cullumber common stock. Cullumber's net income in 2020 was $403,200, and its tax rate was 20%. The company had 96,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share $...
On January 1, 2020, Cullumber Company issued 10-year, $1,810,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 15 shares of Cullumber common stock. Cullumber's net income in 2020 was $403,200, and its tax rate was 20%. The company had 96,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share $...
On January 1, 2020, Grouper Company issued 10-year, $1,980,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 15 shares of Grouper common stock. Grouper's net income in 2020 was $479,400, and its tax rate was 20%. The company had 102,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share $...
16.2 #2 PLEASE SHOW ALL WORK
On January 1, 2020, Marigold Company issued 10-year, $2,060,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 15 shares of Marigold common stock. Marigold's net income in 2020 was $535,600, and its tax rate was 20%. The company had 103,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g....
On January 1, 2020, Culver Company issued 10-year, $1,840,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 16 shares of Culver common stock. Culver's net income in 2020 was $473,800, and its tax rate was 20%. The company had 103,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, eg. $2.55.) Diluted earnings per share $...
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> You did a great job!
Net Income after Tax (B): 400000
( Not to add preference dividend ( it computes no tax effect because preferred dividends generally are not tax-deductible.)
No Of shares for diluted earnings per calucation
Existing Share: 100,000
Convertible Preference Stock: 100000*5= 500,000
-----------------
600,000
Diluted earning per share: 400,000
-------------- = 0.67
600,000
Anu J Kuntharayil Fri, Apr 9, 2021 10:34 AM