Olmstead Corporation's capital structure is as follows: December 3 1 2 0 1 9 2 0 1
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Olmstead Corporation\'s capital structure is as follows: December Outstanding shares of: Common stock Nonconvertible preferred stock convertible bonds $ $ The following additional information is available: On September Olmstead sold additional shares of common stock. Net income for the year ended December was $ During Olmstead paid dividends of $ per share on its nonconvertible preferred stock. The convertible bonds are convertible into shares of common stock for each $ bond. Unexercised compensatory share options to purchase shares of common stock at $ per share were outstanding at the beginning and end of The average market price of Olmstead\'s common stock was $ per share during The market price was $ per share at December The unrecognized compensation cost net of tax related to the options is $ per share. Warrants to purchase shares of common stock at $ per share were attached to the preferred stock at the time of issuance. The warrants, which expire on December were outstanding at December Olmstead\'s effective income tax rate was for and
Required: Round earnings per share to two decimal places.
Compute the number of shares that should be used for the computation of basic earnings per share for the year ended December
Compute the basic earnings per share for the year ended December
Compute the number of shares that should be used for the computation of diluted earnings per share for the year ended December
Compute the diluted earnings per share for the year ended December
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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