Information from the financial statements of Ames Fabricators, Incorporated included the following: December 31 2024 2023 Common shares 100,000 100,000 Convertible preferred shares (convertible into 68,000 shares of common) 26,400 26,400 8% convertible
Information from the financial statements of Ames Fabricators, Incorporated included the following:
| December 31 | ||
| 2024 | 2023 | |
|---|---|---|
| Common shares | 100,000 | 100,000 |
| Convertible preferred shares (convertible into 68,000 shares of common) | 26,400 | 26,400 |
| 8% convertible bonds (convertible into 30,000 shares of common) | $ 1,000,000 | $ 1,000,000 |
Ames’s net income for the year ended December 31, 2024, is $740,000. The income tax rate is 25%. Ames paid dividends of $5 per share on its preferred stock during 2024.
Required:
Compute basic and diluted earnings per share for the year ended December 31, 2024.
Note: Do not round intermediate calculations. Enter your answers in thousands (i.e., 10,000 should be entered as 10).
Homework Answers
Answer:
| numerator | / | denominator | = | earnings per share | |
| basic | 608 | / | 100 | = | 6.08 |
| diluted | 800 | / | 198 | = | 4.04 |
explaination:
step1) 740,000-(5*26,400)=608,000
step 2) 608,000/100= 6.08
step3) convertible preferred stock 5*26,400= 132,000
convertible bonds (1,000,000*8%)*(1-25%)= 60,000
step 4) 608,000+132,000= 740,000+60,000 shares= 800,000
100,000+68,000= 168,000+ 30,000 shares= 198,000
800,000/198,000= 4.0404040404 or 4.04
Add Answer to:
Information from the financial statements of Ames Fabricators, Incorporated included the following: December 31 2024 2023 Common shares 100,000 100,000 Convertible preferred shares (convertible into 68,000 shares of common) 26,400 26,400 8% convertible
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018 2017 Common shares 100,000 100,000 Convertible preferred shares (convertible into 46,000 shares of common) 20,400 20,400 10% convertible bonds (convertible into 20,000 shares of common) $ 1,000,000 $ 1,000,000 Ames’s net income for the year ended December 31, 2018, is $640,000. The income tax rate is 40%. Ames paid dividends of $5 per share on its preferred stock during 2018. Required: Compute basic and...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018 2017 Common shares 100,000 100,000 Convertible preferred shares (convertible into 46,000 shares of common) 20,400 20,400 10% convertible bonds (convertible into 20,000 shares of common) $ 1,000,000 $ 1,000,000 Ames’s net income for the year ended December 31, 2018, is $640,000. The income tax rate is 40%. Ames paid dividends of $5 per share on its preferred stock during 2018. Required: Compute basic and...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018 2017 Common shares 100,000 100,000 Convertible preferred shares (convertible into 38,000 shares of common) 15,600 15,600 10% convertible bonds (convertible into 20,000 shares of common) $ 1,000,000 $ 1,000,000 Ames’s net income for the year ended December 31, 2018, is $560,000. The income tax rate is 40%. Ames paid dividends of $5 per share on its preferred stock during 2018. Required: Compute basic and...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018 2017...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018 2017 Common shares 100,000 100,000 Convertible preferred shares (convertible into 42,000 shares of common) 18,000 18,000 106 convertible bonds (convertible into 20,000 shares of common) $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 earnings per...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2021 2020...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2021 2020 100,000 100,000 Common shares Convertible preferred shares (convertible into 46,000 shares of common) 8% convertible bonds (convertible into 30,000 shares of common) 16,800 16,800 $1,000,000 $1,000,000 Ames's net income for the year ended December 31, 2021, is $580,000. The income tax rate is 25%. Ames paid dividends of $5 per share on its preferred stock during 2021. Required: Compute basic and diluted earnings per...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2021 2020...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2021 2020 Common shares 100,000 100,000 Convertible preferred shares (convertible into 78,000 shares of common) 30,000 30,000 8% convertible bonds (convertible into 30,000 shares of common) $1,000,000 $1,000,000 Ames's net income for the year ended December 31, 2021, is $800,000. The income tax rate is 25%. Ames paid dividends of $5 per share on its preferred stock during 2021. Required: Compute basic and diluted earnings per...
Please help. Information from the financial statements of Ames Fabricators, Inc., included the following: December 31...
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...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2021 2020...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2021 2020 Common shares 100,000 100,000 Convertible preferred shares (convertible into 78,000 shares of common) 30,000 30,000 8% convertible bonds (convertible into 30,000 shares of common) $1,000,000 $1,000,000 Ames's net income for the year ended December 31, 2021, is $800,000. The income tax rate is 25%. Ames paid dividends of $5 per share on its preferred stock during 2021. Required: Compute basic and diluted earnings per...
Exercise 19-21 EPS; convertible preferred stock; convertible bonds; order of entry [LO19-7, 19-9) Information from...
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...
looking for dileted EPS numerator and pls show work..thanks Information from the financial statements of Ames...
looking for dileted EPS numerator and pls show work..thanks
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 64,000 shares of common) 10% convertible bonds (convertible into 20,000 shares of common) 31,200 31,200 $1,000,000 $1,000,000 Ames's net income for the year ended December 31, 2018, is $820,000. The income tax rate is 400 Ames paid dividends of $5 per share on its preferred stock...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2018 2017 Common shares 100,000 100,000 Convertible preferred shares (convertible into 42,000 shares of common) 18,000 18,000 106 convertible bonds (convertible into 20,000 shares of common) $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 earnings per...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2021 2020 100,000 100,000 Common shares Convertible preferred shares (convertible into 46,000 shares of common) 8% convertible bonds (convertible into 30,000 shares of common) 16,800 16,800 $1,000,000 $1,000,000 Ames's net income for the year ended December 31, 2021, is $580,000. The income tax rate is 25%. Ames paid dividends of $5 per share on its preferred stock during 2021. Required: Compute basic and diluted earnings per...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2021 2020 Common shares 100,000 100,000 Convertible preferred shares (convertible into 78,000 shares of common) 30,000 30,000 8% convertible bonds (convertible into 30,000 shares of common) $1,000,000 $1,000,000 Ames's net income for the year ended December 31, 2021, is $800,000. The income tax rate is 25%. Ames paid dividends of $5 per share on its preferred stock during 2021. Required: Compute basic and diluted earnings per...
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...
Information from the financial statements of Ames Fabricators, Inc., included the following: December 31 2021 2020 Common shares 100,000 100,000 Convertible preferred shares (convertible into 78,000 shares of common) 30,000 30,000 8% convertible bonds (convertible into 30,000 shares of common) $1,000,000 $1,000,000 Ames's net income for the year ended December 31, 2021, is $800,000. The income tax rate is 25%. Ames paid dividends of $5 per share on its preferred stock during 2021. Required: Compute basic and diluted earnings per...
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...
looking for dileted EPS numerator and pls show work..thanks
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 64,000 shares of common) 10% convertible bonds (convertible into 20,000 shares of common) 31,200 31,200 $1,000,000 $1,000,000 Ames's net income for the year ended December 31, 2018, is $820,000. The income tax rate is 400 Ames paid dividends of $5 per share on its preferred stock...
Most questions answered within 3 hours.
-
A researcher is using a two-tailed hypothesis test with α =
.05 to evaluate the effect...
asked 1 hour ago -
Two long, straight wires are parallel and 8.5 cm apart. The top
wire carries a current...
asked 2 hours ago -
Three arguments used to promote trade barriers are the national
security argument, the infant-industry argument, and...
asked 3 hours ago -
Question 3:
Percentage of Completion
Method (12 marks) On January 1, 2017, Eagle Construction Ltd.
started...
asked 3 hours ago -
A company purchased a tract of land for its natural resources at
a cost of $2,042,900....
asked 2 hours ago -
1. These financial statement item are
for UPS Company at fiscal year-end, October 31, 2019.
...
asked 3 hours ago -
PYTHON HOMEWORK
When an object is falling because of gravity, the following
formula can be used...
asked 3 hours ago -
Which of the following groups is comprised solely of
chemoheterotrophs?
Click all that apply.
animals
fungi...
asked 3 hours ago -
What is the feminist theory in 100 words or more?
book: Juvenile Justice In America, Clemens...
asked 3 hours ago -
1) What is the probability of a randomly selected value from a
normally distributed population falling...
asked 3 hours ago -
Why is it important for managers to include social
responsibility and environmental responsibility along with goals...
asked 3 hours ago -
THIS IS THE CODE I AM TRYING TO RUN
code
# def main():
#Reading a as...
asked 3 hours ago