Assume Beta Company had issued the following convertible preferred shares on April 1 2020 which were not
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Assume Beta Company had issued the following convertible preferred shares on April 1 2020 which were not included in the financial statements. As at March 31 2021, none of the preferred shares had been converted into common shares.
Preferred shares, $0.1 par value, 10% dividend yield, cumulative in-arrears, issued and outstanding 300,000,000 shares, convertible into 30,000,000 common shares.
Compute the pro-forma basic earnings per share and the diluted earnings per share for 2021 financial year. Round your answers to the nearest $0.01 and show your calculations.
Related Book For
Principles of Auditing and Other Assurance Services
ISBN: 978-0078025617
19th edition
Authors: Ray Whittington, Kurt Pany
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