Basic earning per share = 302000/92000 = 3.28 per share
a) Diluted earning per share = Adjusted net income/Adjusted share = (302000+66960)/(92000+27900) =3.08 per share
b) Diluted earning per share = 302000/(92000+46000) = 2.19 per share
On January 1, 2017, Nash Company issued 10-year, $1,860,000 face value, 6% bonds, at par. Each $1,000 bond is convertib...
On January 1, 2017, Pronghorn Company issued 10-year, $2,090,000
face value, 6% bonds, at par. Each $1,000 bond is convertible into
14 shares of Pronghorn common stock. Pronghorn’s net income in 2017
was $311,000, and its tax rate was 40%. The company had 101,000
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 to 2 decimal places, e.g.
$2.55.)
Diluted earnings per
share
$...
On January 1, 2017, Windsor Company issued 10-year, $2,200,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 14 shares of Windsor common stock. Windsor’s net income in 2017 was $295,000, and its tax rate was 40%. The company had 97,000 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 to 2 decimal places, e.g. $2.55.) Diluted earnings per share $enter...
On January 1, 2017, Cullumber Company issued 10-year, $1,840,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 16 shares of Cullumber common stock. Cullumber's net income in 2017 was $273,000, and its tax rate was 40%. The company had 103,000 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 to 2 decimal places, e.g. $2.55.) Diluted earnings per share (b)...
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 &...
On January 1, 2020, Riverbed Company issued 10-year, $2,150,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 16 shares of Riverbed common stock. Riverbed’s net income in 2020 was $518,950, 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 $enter...
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, 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 $...
1. On January 1, 2020, Carla Company issued 10-year, $2,020,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 14 shares of Carla common stock. Carla’s net income in 2020 was $530,250, and its tax rate was 20%. The company had 101,000 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.) (b) Compute diluted earnings...
On January 1, 2020, Marigold Company issued 10-year $1,900,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 14 shares of Marigold common stock, Marigold's net income in 2020 was $448,200, and its tax rate was 20%. The company had 108,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. cess (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, es $2.55.) Diluted earnings per share...