Crane Corporation has 390,000 shares of common stock outstanding throughout 2021. In addition, the corporation has 5,300,
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Crane Corporation has 390,000 shares of common stock outstanding throughout 2021. In addition, the corporation has 5,300, 20-year, 9% bonds issued at par in 2019. Each $1,000 bond is convertible into 20 shares of common stock after 9/23/22. During the year 2021, the corporation earned $842,400 after deducting all expenses. The tax rate was 30%. Compute the proper earnings per share for 2021. (Round answer to 2 decimal places, 52.75.) Earning per share?
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
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