The company had 200,000 shares of common stock outstanding on January 1. In addition, as of January 1, the company had issued 5,000 convertible preferred shares (cumulative, 5%, $100 par). These preferred shares were converted on September 1. Each preferred share was converted into five shares of common stock. The preferred dividends for the entire year were paid in full before the conversion. The company has no other potentially dilutive securities. Net income for the year was $300,000. Compute
(1) Basic earnings per share
(2) Diluted earnings per share.
Common Stock Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
The company had 100,000 shares of common stock outstanding on January 1. In addition, as of...... ... was $16; the stock price on the option exercise date (April 1) was $15. The company has no other potentially dilutive securities. Net income for the year was $200,000. Compute (1) Basic earnings...
The company had 100,000 shares of common stock outstanding on January 1. In addition, as of...... ... exchange for each bond. Accrued interest on the bonds was recognized and paid on that date. Net income for the year was $200,000. The income tax rate is 40%. Compute (1) Basic earnings per share...
The company had 100,000 shares of common stock outstanding on January 1. In addition, as of...... ... The preferred dividends for the entire year were paid in full before the conversion. The company has no other potentially dilutive securities. Net income for the year was $200,000. Compute (1)...
An entomologist is investigating which of two fumigants, F1 or F2, is more effective in controlling parasities in tobacco plants. To compare the fumigants, nine fields of differing soil characteristics, drainage, and amount of wind shield were planted with tobacco. Each field was then divided into...
You spent $23,875 for goods, services, and housing in 2014, what would the same purchases have cost in 1980? Consumer Price Index. In Exercises, use the Consumer Price Index values from Table 2.2.
Hart Company made 3,300 shelves using 22,300 pounds of wood costing $303,280. The company\'s direct materials standards for one shelf are 8 pounds of wood at $13.50 per pound. Exercise 21-14A (Algo) Recording and closing materials variances LO P6 Hart Company uses a standard costing system, Prepare...
The Daniels Tool & Die Corporation has been in existence for a little over three years. The company\'s sales have been increasing each year as it builds a reputation. The company manufactures dies to its customers\' specifications and therefore uses a job-order cost system. Factory overhead is...
The company had 50,000 shares of common stock outstanding throughout the year. In addition, as of January 1, the company had issued 100 convertible bonds ($1,000 face value, 10%). The company has no other potentially dilutive securities. Net income for the year was $100,000. The income tax rate is...
On January 1, the company had 150,000 common shares outstanding. During the year, the following events occurred: March 1: 2-for-1 stock split June 1: Issued 45,000 additional shares September 1: 20% stock dividend What was the weighted-average number of shares outstanding for the year?