The information below pertains to Stellar Company for
2021.
Net income for the year | $1,250,000 | |
7% convertible bonds issued at par ($1,000 per bond); each bond
is convertible into 30 shares of common stock |
2,080,000 | |
6% convertible, cumulative preferred stock, $100 par value;
each share is convertible into 3 shares of common stock |
3,800,000 | |
Common stock, $10 par value | 5,770,000 | |
Tax rate for 2021 | 20% | |
Average market price of common stock | $25 per share |
There were no changes during 2021 in the number of common shares,
preferred shares, or convertible bonds outstanding. There is no
treasury stock. The company also has common stock options (granted
in a prior year) to purchase 70,500 shares of common stock at $20
per share.
(a) Compute basic earnings per share for 2021.
(Round answer to 2 decimal places, e.g.
$2.55.)
Basic earnings per share |
(b) Compute diluted earnings per share for 2021.
(Round answer to 2 decimal places, e.g.
$2.55.)
Diluted earnings per share |
The information below pertains to Stellar Company for 2021. Net income for the year $1,250,000 7%...
The information below pertains to Pearl Company for 2021. Net income for the year $1,250,000 7% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 30 shares of common stock 2,080,000 6% convertible, cumulative preferred stock, $100 par value; each share is convertible into 3 shares of common stock 3,860,000 Common stock, $10 par value 5,710,000 Tax rate for 2021 20% Average market price of common stock $25 per share There were no changes during 2021...
Problem 16-08 The information below pertains to Pearl Company for 2021. $1,250,000 2,070,000 Net income for the year 7% convertible bonds issued at par $1,000 per bond); each bond is convertible into 30 shares of common stock 6% convertible, cumulative preferred stock, $100 par value; each share is convertible into 3 shares of common stock Common stock, $10 par value Tax rate for 2021 Average market price of common stock 4,120,000 6,060,000 20% $25 per share There were no changes...
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The information below pertains to Bonita Company for 2021. Net income for the year $1,190,000 7% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 30 shares of common stock 1,970,000 6% convertible, cumulative preferred stock, $100 par value; each share is convertible into 3 shares of common stock 4,000,000 Common stock, $10 par value 6,280,000 Tax rate for 2021 20% Average market price of common stock $25 per share There were no changes during...
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The information below pertains to Cheyenne Company for 2021. $1,140,000 2,010,000 Net income for the year 6% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 30 shares of common stock 6% convertible, cumulative preferred stock, $100 par value; each share is convertible into 3 shares of common stock Common stock, $10 par value Tax rate for 2021 Average market price of common stock 3,820,000 5,820,000 20% $25 per share There were no changes during 2021...
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Problem 16-08 The information below pertains to Novak Company for 2021. Net income for the year $1,220,000 7% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 30 shares of common stock 1,990,000 6% convertible, cumulative preferred stock, $100 par value; each share is convertible into 3 shares of common stock 3,990,000 Common stock, $10 par value 6,140,000 Tax rate for 2021 20% Average market price of common stock $25 per share There were no...