Question: please solve it and show works. given answer are wrong . thanks Current Attempt in Progress * Your answer is incorrect. On January 1, 2025,
Current Attempt in Progress * Your answer is incorrect. On January 1, 2025, Swifty Company issued 10-year, $1,860,000 face value, 6% bonds, at par, Each $1,000 bond is convertible into 16 shares of Swifty common stock. Swifty's net income in 2025 was $412,800, and its tax rate was 20%. The compary had 96,000 shares of common stock outstanding throughout 2025. None of the bonds were converted in 2025. a. Compute diluted earnings per share for 2025. (Round answer to 2 decimal places, es. 2.55.) Diluted earnings per share $ b. Compute diluted earnings per share for 2025 , assuming the same facts as above, except that $960,000 of 6% convertible preferred stock was issued instead of the bonds. Each $100 preferred share is convertible into 5 shares of Swifty common stock. (Round answer to 2 decimal places, eg. 2.55 .) Diluted earnings per share $
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