Data for Schrute Powder Company at the end of 2014 follow. All bonds are convertible as indicated

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Data for Schrute Powder Company at the end of 2014 follow. All bonds are convertible as indicated and were issued at their face amounts.

Data for Schrute Powder Company at the end of 2014

Instructions:
1. Compute basic and diluted EPS for 2014, assuming that no additional shares of common stock were issued during the year.
2. Compute basic and diluted EPS, assuming that the 10-year bonds were converted on July 1, 2014, and that net income for the year was $1,326,700 (reflects reduction in interest due to bond conversion).

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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Related Book For  book-img-for-question

Intermediate Accounting

ISBN: 978-0538479738

18th edition

Authors: Earl K. Stice, James D. Stice

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