Question: Hand written answer please Questionnol: (2+4+4-10) a) Convertible bands are issued in combination of bond benefits. Do you agree Explain b) On January 1, 2017,
Questionnol: (2+4+4-10) a) Convertible bands are issued in combination of bond benefits. Do you agree" Explain b) On January 1, 2017, Mirpur Corp had 400,000 shares of common stock outstanding. During 2017. it had the following transactions that affected the common stock account February 1 Issued 100,000 shares April 1 Issued a 2-for-1 stock split May 1 Acquired 100,000 shares of treasury stock June 1 Issued 30,000 shares for land purchase July 1 Reissued 60,00) shared of treasury stock October 1 Issued a 10% stock dividend Mirpur Corp. camned net income of T. 5,456,000 during 2017. In addition, it had 100,000 shares of 9%. Tk 100 par nonconvertible, noncumulative preferred stock outstanding for the entire year The company declared and paid a preferred dividend in 2017 Reyuired: Compute the basic eamings per share for 2017 c) Mirpur Corp has net income of Tk 210,000 during 2017 and weighted average number of shares outstanding during the period of 100,000. The company has two convertible bond issues. One is a 10 years, 6% issue sold at 103 (total Tk 1.000.000) in last year which is convertible into 20,000 shares. The other is a 1016 issue sold at 100 total TK. 1,000,000) on March 31 of this current year and convertible inte 30,000 shares. The tax rate is 35% Company follows straight Ime basis for auctization. Required: Compute the basic EPS for 2017 ii. Compute the diluted EPS for 2017
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
