Homework Answers
Part A
|
Net income |
448200 |
|
Add: Interest Savings (net of tax) (1900000*6%*(1-20%)) |
91200 |
|
Adjusted Net Income |
539400 |
|
Outstanding shares |
108000 |
|
Add: bonds converted (190000/1000*14) |
26600 |
|
Shares Outstanding Adjusted |
134600 |
Diluted EPS: adjusted net income / Shares Outstanding Adjusted = 539400/ 134600 = $4.01
Part B
|
Outstanding shares |
108000 |
|
Add: Shares Assumed to be Issued (1080000/100*5) |
54000 |
|
Shares Outstanding Adjusted |
162000 |
Diluted EPS: adjusted net income / Shares Outstanding Adjusted = (448200-0)/162000 = $2.77
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On January 1, 2020, Marigold Company issued 10-year $1,900,000 face value, 6% bonds, at par. Each...
16.2 #2 PLEASE SHOW ALL WORK On January 1, 2020, Marigold Company issued 10-year, $2,060,000 face...
16.2 #2 PLEASE SHOW ALL WORK
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1-
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face value, 6% bonds, at par. Each $1,000 bond is convertible into
14 shares of Blossom common stock. Blossom’s net income in 2020 was
$509,850, and its tax rate was 20%. The company had 99,000 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.
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16.2 #2 PLEASE SHOW ALL WORK
On January 1, 2020, Marigold Company issued 10-year, $2,060,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 15 shares of Marigold common stock. Marigold's net income in 2020 was $535,600, and its tax rate was 20%. The company had 103,000 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....
1-
On January 1, 2020, Blossom Company issued 10-year, $1,900,000
face value, 6% bonds, at par. Each $1,000 bond is convertible into
14 shares of Blossom common stock. Blossom’s net income in 2020 was
$509,850, and its tax rate was 20%. The company had 99,000 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, Pina Company issued 10-year, $2,200,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 14 shares of Pina common stock. Pina's net income in 2020 was $451,050, and its tax rate was 20%. The company had 97,000 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 &...
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