Homework Answers
| Weighted-average shares outstanding | |
| Outstanding | 650,000 |
| Repurchase (48000*5/6) | -40,000 |
| 610,000 | |
| 2-for-1 split | 1,220,000 |
| Issued (1/6*204000) | 34,000 |
| 1,254,000 | |
| Basic EPS ((2700000-72000)/1254000) | $ 2.10 |
| Preferred Dividend (900000*8%) = $72,000 | |
| Diluted EPS | $ 1.87 |
| (2700000/(1254000+180000+75000-62500)) | |
| Treasury Stock Purchasable (75000*25/30) | |
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Assume that the following data relative to Blossom Company for 2021 is available: Net...
please help me solve part A, i already solved b + c Testbank Problem 146 Assume...
please help me solve part A, i already solved b + c
Testbank Problem 146 Assume that the following data relative to Blossom Company for 2021 is available: Net Income $2,800,000 Transactions in Common Shares Jan. 1, 2021, Beginning number Mar. 1, 2021, Purchase of treasury shares June 1, 2021, Stock split 2-1 Nov. 1, 2021, Issuance of shares Change Cumulative 720,000 (53,400) 666,600 656,600 1,333,200 228,000 1,561,200 6% Cumulative Convertible Preferred Stock Sold at par, convertible into 180,000 shares...
Problem 146 (Part Level Submission) Assume that the following data relative to Kane Company for 2018 is available:...
Problem 146 (Part Level Submission) Assume that the following data relative to Kane Company for 2018 is available: Net Income Transactions in Common Shares Jan. 1. 2018, Beginning number Mar. 1. 2018, Purchase of treasury shares June 1, 2018, Stock split 2-1 Nov. 1, 2018, Issuance of shares 240.000 1.520,000 6% Cumulative Convertible Preferred Stock Sold at par, convertible into 200,000 shares of common (adjusted for split). 51.000.000 Stock Options Exercisable at the option price of $25 per share. Average...
Assume that the following data relate to Rosen, Inc. for the year 2017: Net income (40%...
Assume that the following data relate to Rosen, Inc. for the year 2017: Net income (40% tax rate) $5,300,000 Average common shares outstanding 2017 1,000,000 shares 8% cumulative convertible preferred stock: Convertible into 90,000 shares of common $2,000,000 6% convertible bonds; convertible into 75,000 shares of common $4,000,000 Stock options: Exercisable at the option price of $30 per share; Average market price in 2017, $36 48,000 shares 1.Compute basic earnings per share. 2.Compute diluted earnings per share.
FULL SCREEN CALCULATOR PRINTER VERSION BACK NEXT Problem 146 (Part Level Submission) Assume that the following...
FULL SCREEN CALCULATOR PRINTER VERSION BACK NEXT Problem 146 (Part Level Submission) Assume that the following data relative to Kane Company for 2018 is available: $2,100,000 Net Income Change Transactions in Common Shares Jan 1, 2018, Beginning number Mar. 1, 2018, Purchase of treasury shares June 1, 2018, Stock split 2-1 Nov. 1, 2018, Issuance of shares (60,000) 640,000 240,000 Cumulative 700,000 640,000 1,280,000 1,520,000 $1,000,000 6% Cumulative Convertible Preferred Stock Sold at par, convertible into 200,000 shares of common...
The information below pertains to Windsor Company for 2021. Net income for the year $1,190,000 7%...
The information below pertains to Windsor Company for 2021. Net income for the year $1,190,000 7% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 30 shares of common stock 1,970,000 6% convertible, cumulative preferred stock, $100 par value; each share is convertible into 3 shares of common stock 4,000,000 Common stock, $10 par value 6,280,000 Tax rate for 2021 20% Average market price of common stock $25 per share There were no changes during...
The information below pertains to Sarasota Company for 2021. Net income for the year $1,220,000 7%...
The information below pertains to Sarasota Company for
2021.
Net income for the year
$1,220,000
7% convertible bonds issued
at par ($1,000 per bond); each bond is convertible into
30 shares of common stock
1,990,000
6% convertible, cumulative
preferred stock, $100 par value; each share is convertible
into 3 shares of common stock
3,990,000
Common stock, $10 par
value
6,140,000
Tax rate for 2021
20%
Average market price of
common stock
$25 per share
There were no changes during...
The information below pertains to Cheyenne Company for 2021. $1,140,000 2,010,000 Net income for the year...
The information below pertains to Cheyenne Company for 2021. $1,140,000 2,010,000 Net income for the year 6% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 30 shares of common stock 6% convertible, cumulative preferred stock, $100 par value; each share is convertible into 3 shares of common stock Common stock, $10 par value Tax rate for 2021 Average market price of common stock 3,820,000 5,820,000 20% $25 per share There were no changes during 2021...
The information below pertains to Stellar Company for 2021. Net income for the year $1,250,000 7%...
The information below pertains to Stellar Company for
2021.
Net income for the year
$1,250,000
7% convertible bonds issued at par ($1,000 per bond); each bond
is convertible into
30 shares of common stock
2,080,000
6% convertible, cumulative preferred stock, $100 par value;
each share is convertible
into 3 shares of common stock
3,800,000
Common stock, $10 par value
5,770,000
Tax rate for 2021
20%
Average market price of common stock
$25 per share
There were no changes during...
The information below pertains to Johnson Company for 2021. Net income for the year $1,230,000 8%...
The information below pertains to Johnson Company for
2021.
Net income for the year
$1,230,000
8% convertible bonds issued at par ($1,000 per bond); each bond
is convertible into
30 shares of common stock
2,090,000
6% convertible, cumulative preferred stock, $100 par value;
each share is convertible
into 3 shares of common stock
3,830,000
Common stock, $10 par value
6,110,000
Tax rate for 2021
20%
Average market price of common stock
$25 per share
There were no changes during...
The information below pertains to Bonita Company for 2021. Net income for the year $1,190,000 7%...
The information below pertains to Bonita Company for 2021. Net income for the year $1,190,000 7% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 30 shares of common stock 1,970,000 6% convertible, cumulative preferred stock, $100 par value; each share is convertible into 3 shares of common stock 4,000,000 Common stock, $10 par value 6,280,000 Tax rate for 2021 20% Average market price of common stock $25 per share There were no changes during...
please help me solve part A, i already solved b + c
Testbank Problem 146 Assume that the following data relative to Blossom Company for 2021 is available: Net Income $2,800,000 Transactions in Common Shares Jan. 1, 2021, Beginning number Mar. 1, 2021, Purchase of treasury shares June 1, 2021, Stock split 2-1 Nov. 1, 2021, Issuance of shares Change Cumulative 720,000 (53,400) 666,600 656,600 1,333,200 228,000 1,561,200 6% Cumulative Convertible Preferred Stock Sold at par, convertible into 180,000 shares...
Problem 146 (Part Level Submission) Assume that the following data relative to Kane Company for 2018 is available: Net Income Transactions in Common Shares Jan. 1. 2018, Beginning number Mar. 1. 2018, Purchase of treasury shares June 1, 2018, Stock split 2-1 Nov. 1, 2018, Issuance of shares 240.000 1.520,000 6% Cumulative Convertible Preferred Stock Sold at par, convertible into 200,000 shares of common (adjusted for split). 51.000.000 Stock Options Exercisable at the option price of $25 per share. Average...
FULL SCREEN CALCULATOR PRINTER VERSION BACK NEXT Problem 146 (Part Level Submission) Assume that the following data relative to Kane Company for 2018 is available: $2,100,000 Net Income Change Transactions in Common Shares Jan 1, 2018, Beginning number Mar. 1, 2018, Purchase of treasury shares June 1, 2018, Stock split 2-1 Nov. 1, 2018, Issuance of shares (60,000) 640,000 240,000 Cumulative 700,000 640,000 1,280,000 1,520,000 $1,000,000 6% Cumulative Convertible Preferred Stock Sold at par, convertible into 200,000 shares of common...
The information below pertains to Sarasota Company for
2021.
Net income for the year
$1,220,000
7% convertible bonds issued
at par ($1,000 per bond); each bond is convertible into
30 shares of common stock
1,990,000
6% convertible, cumulative
preferred stock, $100 par value; each share is convertible
into 3 shares of common stock
3,990,000
Common stock, $10 par
value
6,140,000
Tax rate for 2021
20%
Average market price of
common stock
$25 per share
There were no changes during...
The information below pertains to Cheyenne Company for 2021. $1,140,000 2,010,000 Net income for the year 6% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 30 shares of common stock 6% convertible, cumulative preferred stock, $100 par value; each share is convertible into 3 shares of common stock Common stock, $10 par value Tax rate for 2021 Average market price of common stock 3,820,000 5,820,000 20% $25 per share There were no changes during 2021...
The information below pertains to Stellar Company for
2021.
Net income for the year
$1,250,000
7% convertible bonds issued at par ($1,000 per bond); each bond
is convertible into
30 shares of common stock
2,080,000
6% convertible, cumulative preferred stock, $100 par value;
each share is convertible
into 3 shares of common stock
3,800,000
Common stock, $10 par value
5,770,000
Tax rate for 2021
20%
Average market price of common stock
$25 per share
There were no changes during...
The information below pertains to Johnson Company for
2021.
Net income for the year
$1,230,000
8% convertible bonds issued at par ($1,000 per bond); each bond
is convertible into
30 shares of common stock
2,090,000
6% convertible, cumulative preferred stock, $100 par value;
each share is convertible
into 3 shares of common stock
3,830,000
Common stock, $10 par value
6,110,000
Tax rate for 2021
20%
Average market price of common stock
$25 per share
There were no changes during...
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