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In: AccountingEastwind Corp. had $1,000,000 net income in 2015. On January 1,2015 there were 200,000 shares...Eastwind Corp. had $1,000,000 net income in 2015. On January 1,2015 there were 200,000 shares of common stock outstanding. OnApril 1, 20,000 shares were issued and on September 1, Adcockbought 30,000 shares of treasury stock. On October 1, the companydeclared a two-for-one stock split. On December 1, 20% stockdividend was issued. There are 30,000 options to buy common stockat $40 a share outstanding. The market price of the common stockaveraged $50 during 2015. The tax rate is 40%.During 2015, there were 40,000 shares of convertible cumulativepreferred stock outstanding. The preferred is $100 par, pays $3.50per share a year dividend, and is convertible into one share ofcommon stock.Eastwind issued $2,000,000 of 8% convertible bonds at face valueon July 1, 2015. Each $1,000 bond is convertible into 30 shares ofcommon stock.InstructionsCompute the basic and diluted earnings per share for 2015. Handwrite work.