On January 1, 2000 Ram Company purchased all of the outstanding stock (all 9000 shares) of...
| On January 1, 2000 Ram Company purchased all of the outstanding stock (all 9000 shares) of Saint Company | ||||||||||
| at book value. Ram accounts for its purchase of Saint using initial value and Saint does not pay any dividends | ||||||||||
| on its common stock. | ||||||||||
| On January 1, 2019 Saint Company issued 1000 shares of $100 par 5% preferred stock. | ||||||||||
| During 2019 Ram Company had 20,000 shares of common stock outstanding | ||||||||||
| In 2019, Ram Company reported income of $400,000 (unconsolidated) | ||||||||||
| In 2019, Saint Company reported income of $70,000 | ||||||||||
| REQUIRED: A) DETERMINE EPS FOR 2019 FOR RAM COMPANY | ||||||||||
| B) THE PREFERRED STOCK IS CONVERTIBLE; EACH SHARE OF PREFERRED STOCK COULD BE | ||||||||||
| CONVERTED INTO 1 SHARE OF COMMON STOCK….DETERMINE EPS FOR RAM FOR 2019 | ||||||||||
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On January 1, 2000 Ram Company purchased all of the outstanding
stock (all 9000 shares) of...
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