johnson co. had 5,000,000 share of common stock outstanding on december 31, 2017. an additional 200,000...
johnson co. had 5,000,000 share of common stock outstanding on december 31, 2017. an additional 200,000 shares are issued on april 1, 2018, and 480,000 more on september 1. johnson had $6,000,000 of 9% convertible bonds outstanding all year. Each $1,000 bond is convertible into 50 shares of common stock.
REQUIRED: Compute the NUMBERS OF SHARES at december 31, 2018, to be used in computing:
1) BASIC EARNINGS PER SHARE
2) DILUTED EARNINGS PER SHARE.
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johnson co. had 5,000,000 share of common stock outstanding on
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XYZ Company had 200,000 shares of common stock outstanding on December 31, 2017. On July 1, 2018, XYZ issued an additional 45,000 shares for cash. On January 1, 2018, XYZ issued 15,000 shares of convertible preferred stock. The preferred stock had a par value of $100 per share and paid a 5% dividend. Each share of preferred stock is convertible into 8 shares of common. During 2018 XYZ paid the regular annual dividend on the preferred and common stock. Net...
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1.
2..
On December 31, 2017, Berclair Inc. had 300 million shares of common stock and 13 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 30 million shares of its common stock as treasury stock. Berclair issued a 4% common stock dividend on July 1, 2018. Four million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $650 million. Also outstanding...
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