Information from the financial statements of Henderson-Niles
Industries included the following at December 31, 2018:
Common shares outstanding throughout the year | 100 | million | |
Convertible preferred shares (convertible into 20 million shares of common) | 70 | million | |
Convertible 10% bonds (convertible into 19.0 million shares of common) | $ | 2,700 | million |
Henderson-Niles’s net income for the year ended December 31, 2018,
is $940 million. The income tax rate is 40%. Henderson-Niles paid
dividends of $2 per share on its preferred stock during 2018.
Required:
Compute basic and diluted earnings per share for the year ended
December 31, 2018. (Enter your answers in millions (i.e.,
10,000,000 should be entered as 10).)
|
Calculation of Basic Earning per share:
Net Income = 940 million
Preferred dividends = 70*2
= 140 per share
Basic EPS = (940-140)/100
= $8
Calculation of Diluted Earning per Share:
Diluted EPS =(940-140+140)/(100+20)
= $7.83
Information from the financial statements of Henderson-Niles Industries included the following at December 31, 2018: Common...
Information from the financial statements of Henderson-Niles Industries included the following at December 31, 2018: Common shares outstanding throughout the year Convertible preferred shares (convertible into 32 million shares of common) Convertible 10% bonds (convertible into 13.5 million shares of common) 100 million 60 million $ 900 million Henderson-Niles's net income for the year ended December 31, 2018, is $520 million. The income tax rate is 40%. Henderson- Niles paid dividends of $2 per share on its preferred stock during...
Information from the financial statements of Henderson-Niles Industries included the following at December 31, 2018: Common shares outstanding throughout the year Convertible preferred shares (convertible into 32 million shares of common) Convertible 10% bonds (convertible into 13.5 million shares of common) 100 million 60 million $ 900 million Henderson-Niles's net income for the year ended December 31, 2018, is $520 million. The income tax rate is 40%. Henderson- Niles paid dividends of $2 per share on its preferred stock during...
Information from the financial statements of Henderson-Niles Industries included the following at December 31, 2018: Common shares outstanding throughout the year Convertible preferred shares (convertible into 40 million shares of common) Convertible 10% bonds (convertible into 13.5 million shares of common) 100 million 65 million $1,000 million Henderson-Niles's net income for the year ended December 31, 2018, is $600 million. The income tax rate is 40%. Henderson-Niles paid dividends of $2 per share on its preferred stock during 2018. Required:...
Information from the financial statements of Henderson-Niles Industries included the following at December 31, 2021: Common shares outstanding throughout the year 100 million Convertible preferred shares (convertible into 36 million shares of common) 60 million Convertible 8% bonds (convertible into 14.5 million shares of common) $ 1,600 million Henderson-Niles’s net income for the year ended December 31, 2021, is $740 million. The income tax rate is 25%. Henderson-Niles paid dividends of $3 per share on its preferred stock during 2021....
question 6 Information from the financial statements of Henderson-Niles Industries included the following at December 31, 2021: Common shares outstanding throughout the year Convertible preferred shares (convertible into 10 million shares of common) Convertible 8% bonds (convertible into 17.0 million shares of common) 100 million 30 million $2,200 million Henderson-Niles's net income for the year ended December 31, 2021, is $840 million. The income tax rate is 25%. Henderson-Niles paid dividends of $2 per share on its preferred stock during...
Information from the financial statements of Henderson-Niles Industries included the following at December 31, 2016: Common shares outstanding throughout the year 100 million Convertible preferred shares (convertible into 40 million shares of common) 75 million Convertible 10% bonds (convertible into 15.0 million shares of common) $ 1,200 million Henderson-Niles’ net income for the year ended December 31, 2016, is $640 million. The income tax rate is 40%. Henderson-Niles paid dividends of $2 per share on its preferred stock during 2016....
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 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 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...
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...