hannahchristine457
08.03.2021 •
Business
Paul Company had 100,000 shares of common stock outstanding on January 1, 2021. On September 30, 2021, Paul sold 40,000 shares of common stock for cash. Paul also had 6,000 shares of convertible preferred stock outstanding throughout 2021. The preferred stock is $100 par, 6%, and is convertible into 3 shares of common for each share of preferred. Paul also had 420, 8%, convertible bonds outstanding throughout 2021. Each $1,000 bond is convertible into 30 shares of common stock. The bonds sold originally at face value. Reported net income for 2021 was $270,000 with a 40% tax rate. Common shareholders received $1.20 per share dividends after preferred dividends were paid in 2021. Required: Compute basic and diluted earnings per share for 2021. (Round your answers to 2 decimal places.)
Solved
Show answers
More tips
- F Food and Cooking How to Make Delicious Plov: Secrets and Recipes...
- S Sport How to Learn to Pull Up on Monkey Bars?...
- L Leisure and Entertainment Scrapbooking: What is it and Why is it Becoming More Popular?...
- C Computers and Internet Where did torrents.ru move to?...
- B Business and Finance Understanding Cash Flow: What It Is and How It Works...
- C Computers and Internet What Are Peers and Seeds in Torrenting?...
- H Health and Medicine 10 Simple Techniques on How to Boost Your Mood...
- G Goods and services How to Choose the Right High Chair for Your Baby?...
- S Style and Beauty Learn how to tie a keffiyeh on your head like a pro...
Answers on questions: Business
- B Business The following equations describe the economy. C= 100+ 0.8 Y I = 200- 1000 i L = Y - 10000 i Initially, government expenditure is $550, and taxes are $500. The real money supply...
- B Business ABG Question 14 Some fast-food restaurants sell only chicken, others sell only tacos and burritos, and still others sell only hamburgers. This is an example of the economic concept...
- B Business A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Selling price $ 134 Units in beginning inventory...
- M Mathematics The usual price of a sweatshirt is $18, what is its sale price?...
- M Mathematics If 5 pencils and 2 eraser cost $0.90 andar the same price 3 pencils and 1 erasers cost $0.50 what is the cost of one pencils...
- M Mathematics I need this quick pls will mark brainliest write in slope intercept ...
- M Mathematics Who wanna see what i look like?...
- M Mathematics If a wind turbine s blades reach 20 feet in diameter and makes 4 revolutions, how far would one blade travel from start to end?...
- M Mathematics Which equation best represents the relationship between x and y ?...
- C Computers and Technology Foot pad, starting mark, handle, and hook are all pieces of what tool? A. Conduit locknut B. PVC cutter C. Bender D. Fish tape...
Ответ:
Basic EPS = [$270,000 - (6% * $100 * 6,000)] / [100,000 + 40,000 * 3/12]
Basic EPS = [$270,000 - $36,000] / 35,000
Basic EPS = $234,000 / 35,000
Basic EPS = 6.685714285714286
Basic EPS = 6.69
Diluted EPS = [$270,000 + ($420,00*8%*60%)] / [100000 + 40,000 * 3/12 + (420*30) + (6,000*3)]
Diluted EPS = [$270,000 + $2,016] / [35,000 + 12600 + 18,000]
Diluted EPS = $272,016 / 65,600
Diluted EPS = 4.146585365853659
Diluted EPS = $4.15
Ответ: