Homework Answers
| Date | Particulars | No of Share | Cumulative | Period | Ratio (period/12) | Average number of outstanding shares (Final*Ratio) |
| Jan 1, 2018 | Beginning | 66000 | 66000 | 3 | 0.25 | 16500 |
| Apr 1, 2018 | Issue | 20000 | 86000 | 6 | 0.5 | 43000 |
| Oct 1, 2018 | Purchase | -9000 | 77000 | 3 | 0.25 | 19250 |
| 12 | 78750 | |||||
| Net Income | 780000 | |||||
| Less: Preferred Dividend | 50000*10% | -5000 | ||||
| Income available for common stock holder | 775000 | |||||
| Basic EPS=(Net Income-Preferred Dividend)/Average no of outstanding shares | ||||||
| Basic EPS= | 775000/78750 | 9.84 | ||||
| Additional No of Shares: | ||||||
| Preferred Share | 500*4 | 2000 | ||||
| Stock Options: | ||||||
| Proceeds from Issue (16000*20) | 320000 | |||||
| Shares based on Average Market Price 320000/30 | 10667 | |||||
| No. of share from Options | 16000-10667 | 5333 | ||||
| Additional No of shares | 7333 | |||||
| Diluted EPS | 2854000/(1035000+250000 additional share) | |||||
| Diluted EPS | 9.06 |
Add Answer to:
Presented below is information related to the Andrews Company for 2018. Use this information to compute...
On January 1, 2018 Tonge Industries had outstanding 660,000 common shares ($1 par) that originally sold for $30 per share, and 9,000 shares of 10% cumulative preferred stock ($100 par), convertible i...
On January 1, 2018 Tonge Industries had outstanding 660,000 common shares ($1 par) that originally sold for $30 per share, and 9,000 shares of 10% cumulative preferred stock ($100 par), convertible into 90,000 common shares. On October 1, 2018, Tonge sold and issued an additional 16,000 shares of common stock at $33. At December 31, 2018, there were 25,000 incentive stock options outstanding, issued in 2017, and exercisable after one year for 25,000 shares of common stock at an exercise...
The information below pertains to Blue Company for 2018. $1,140,000 1,900,000 Net income for the year 6% convertible bo...
The information below pertains to Blue Company for 2018. $1,140,000 1,900,000 Net income for the year 6% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 20 shares of common stock 6% convertible, cumulative preferred stock, $100 par value; each share is convertible into 5 shares of common stock Tax rate for 2018 Average market price of common stock 3,870,000 40% $25 per share There were 570,000 shares of shares of common stock outstanding on 1/1/2018....
The information below pertains to Flint Company for 2018. $1,180,000 1,910,000 Net income for the year...
The information below pertains to Flint Company for 2018. $1,180,000 1,910,000 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 2018 Average market price of common stock 3,820,000 5,850,000 40% $25 per share There were no changes during 2018...
On December 31, 2017, Berclair Inc. had 540 million shares of common stock and 4 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair pur...
On December 31, 2017, Berclair Inc. had 540 million shares of common stock and 4 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 24 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $900 million. The income tax rate...
Presented below is information related to Sandhill Company. $318,500 $610,000 $1,000,000 1. Net Income [including a...
Presented below is information related to Sandhill Company. $318,500 $610,000 $1,000,000 1. Net Income [including a discontinued operations gain (net of tax) of $112,000] 2. Capital Structure a. Cumulative 5% preferred stock, $100 par, 6,100 shares issued and outstanding b. $10 par common stock, 74,000 shares outstanding on January 1. On April 1, 40,000 shares were issued for cash. On October 1, 16,000 shares were purchased and retired. C. On January 2 of the current year, Sandhill purchased Oslo Corporation....
Presented below is information related to Starr Company. 1. Net Income [including a discontinued operations gain...
Presented below is information related to Starr Company. 1. Net Income [including a discontinued operations gain (net of tax) of $69,000] $229,500 2. Capital Structure a. Cumulative 5% preferred stock, $100 par, 6,300 shares issued and outstanding $630,000 b. $10 par common stock, 74,000 shares outstanding on January 1. On April 1, 40,000 shares were issued for cash. On October 1, 16,000 shares were purchased and retired. $1,000,000 c. On January 2 of the current year, Starr purchased Oslo Corporation....
The information below pertains to Sheffield Company for 2018. Net income for the year $1,230,000 7%...
The information below pertains to Sheffield Company for 2018. Net income for the year $1,230,000 7% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 30 shares of common stock 1,990,000 7% convertible, cumulative preferred stock, $100 par value; each share is convertible into 3 shares of common stock 4,110,000 Common stock, $10 par value 6,270,000 Tax rate for 2018 40% Average market price of common stock $25 per share There were no changes during...
Problem 16-8 The information below pertains to Indigo Company for 2018. $1,140,000 1,900,000 Net income for...
Problem 16-8 The information below pertains to Indigo Company for 2018. $1,140,000 1,900,000 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 2018 Average market price of common stock 3,870,000 5,700,000 40% $25 per share There were no changes...
Exercise 19-17 EPS; stock dividend; nonconvertible preferred stock; treasury shares; shares sold; stock options [LO19-5, 19-6,...
Exercise 19-17 EPS; stock dividend; nonconvertible preferred stock; treasury shares; shares sold; stock options [LO19-5, 19-6, 19-7, 19-8] On December 31, 2017, Berclair Inc, had 400 million shares of common stock and 5 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 104 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Four million treasury shares were sold on...
Problem 16-8 The information below pertains to Sheridan Company for 2018 Net income for the year $1,190,000 7% converti...
Problem 16-8 The information below pertains to Sheridan Company for 2018 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 2018 40% Average market price of common stock $25 per share There were no changes...
On January 1, 2018 Tonge Industries had outstanding 660,000 common shares ($1 par) that originally sold for $30 per share, and 9,000 shares of 10% cumulative preferred stock ($100 par), convertible into 90,000 common shares. On October 1, 2018, Tonge sold and issued an additional 16,000 shares of common stock at $33. At December 31, 2018, there were 25,000 incentive stock options outstanding, issued in 2017, and exercisable after one year for 25,000 shares of common stock at an exercise...
The information below pertains to Blue Company for 2018. $1,140,000 1,900,000 Net income for the year 6% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 20 shares of common stock 6% convertible, cumulative preferred stock, $100 par value; each share is convertible into 5 shares of common stock Tax rate for 2018 Average market price of common stock 3,870,000 40% $25 per share There were 570,000 shares of shares of common stock outstanding on 1/1/2018....
The information below pertains to Flint Company for 2018. $1,180,000 1,910,000 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 2018 Average market price of common stock 3,820,000 5,850,000 40% $25 per share There were no changes during 2018...
On December 31, 2017, Berclair Inc. had 540 million shares of common stock and 4 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 24 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $900 million. The income tax rate...
Presented below is information related to Sandhill Company. $318,500 $610,000 $1,000,000 1. Net Income [including a discontinued operations gain (net of tax) of $112,000] 2. Capital Structure a. Cumulative 5% preferred stock, $100 par, 6,100 shares issued and outstanding b. $10 par common stock, 74,000 shares outstanding on January 1. On April 1, 40,000 shares were issued for cash. On October 1, 16,000 shares were purchased and retired. C. On January 2 of the current year, Sandhill purchased Oslo Corporation....
Problem 16-8 The information below pertains to Indigo Company for 2018. $1,140,000 1,900,000 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 2018 Average market price of common stock 3,870,000 5,700,000 40% $25 per share There were no changes...
Exercise 19-17 EPS; stock dividend; nonconvertible preferred stock; treasury shares; shares sold; stock options [LO19-5, 19-6, 19-7, 19-8] On December 31, 2017, Berclair Inc, had 400 million shares of common stock and 5 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 104 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Four million treasury shares were sold on...
Problem 16-8 The information below pertains to Sheridan Company for 2018 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 2018 40% Average market price of common stock $25 per share There were no changes...
Most questions answered within 3 hours.
-
On January 1, 2019, ABC Company issued $60,000,000 of 20-year,
10.5% bonds when the market rate...
asked 11 minutes ago -
39.4% of US homes continue to use a landline in addition to cell
phone service. 3...
asked 49 minutes ago -
Starting with benzene, synthesize 1-phenyl-1-butyne.
Show intermediates and reagents.
asked 1 hour ago -
Create a 32-run crossed array design with six control factors
and two noise factors such that...
asked 2 hours ago -
A 500g sample of sand from source A has the following amounts
retained on each sieve....
asked 2 hours ago -
In
your own words, please explain the essay by John Keynes wrote "The
End of Laissez...
asked 2 hours ago -
How are the matrix and pixels related? Why are smaller
pixels better for diagnostic quality?
asked 2 hours ago -
2. An AC generator has 80 rectangular loops on
its armature. Each loop is 11 cm...
asked 2 hours ago -
Please help me with this question. Consider Aldi’s current and
potential geographic markets (see Exhibit 4...
asked 2 hours ago -
What are the main components of the fermentation process and
give an explanation of each? Include...
asked 3 hours ago -
Explain which types of cells in the body (belonging to which
organs, etc.) are sensitive to...
asked 3 hours ago -
A single cable supports an 703-kg elevator car. What is the
tension in the cable when...
asked 3 hours ago