Question 7 of 12

Question 7 of 12 Your answer is partially correct. 0.5/1 On June I, 2018, Marigold Company and Swifty Company merged to form Nash Inc. A total Of 733,000 shares were issued to complete the merger. The new corporation reports on a calendar-year basis. On April I, 2020, the company issued an additional 577,000 shares Of stock for cash. All 1,310,000 shares were outstanding on December 31, 2020. Nash Inc. also issued $600a)O Of 20-year, 8% convertible bonds at par on July I, 2020. Each $1,000 bond converts to 42 shares Of common at any interest date. None Of the bonds have been converted to date. Nash Inc. is preparing its annual report for the fiscal year ending December 31, 2020. The annual report Will show earnings per share figures based upon a reported after-tax net income Of $1,475,000. (The tax rate is 20%.) Determine the following for 2020. (a) The number of shares to be used for calculating: (Round to O places, eg. $2,500) (2) Basic earnings per share Diluted earnings per share 1165750 1190950 shares shares (b) The earnings figures to be used for calculating: answers to *as, e. $2,500.) Basic earnings per share (2) Di luted earnings per share eTextbook and Media Save for Later 1475000 Attempts. I Of 5 used 9abmit Answer