Basic earning per share = 294000/110000 = 2.67 per share
a) Diluted earning per share = Adjusted net income/Adjusted share = (294000+67680)/(110000+26320) = 2.65 per share
b) Diluted earning per share = 294000/(110000+55000) = 1.78 per share
Exercise 16-25 x Your answer is incorrect. Try again. On January 1, 2017, Metlock Company issued...
FULL SCREEN CALCULATO8 PRINTER VERSION BACK NEXT Question 10 On January 1, 2017, Metlock Company issued 10-year, $2,010,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 15 shares of Metlock common stock. Metlock's net income in 2017 was $302,000, and its tax rate was 40 % . The company had 95,000 shares of common stock outstanding throughout 2017. None of the bonds were converted in 2017. (a) Compute diluted earnings per share for 2017. (Round answer...
X] your answer is incorrect. Try again. In 2019, Larkspur Enterprises issued, at par, 60 $1,000, 8% bonds, each convertible into 100 shares of common stock. Larkspur had revenues of $18,200 and expenses other than interest and taxes of $7,900 for 2020. (Assume that the tax rate is 20%.) Throughout 2020, 1,600 shares of common stock were outstanding; none of the bonds was converted or redeemed. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places,...
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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 $...