Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. in 2021 our company had net income of $825,000.

In 2021 Our Company had Net Income of $825,000. ...

60.1K

Verified Solution

Question

Accounting

In 2021 Our Company had Net Income of $825,000.
On 1/1/21, there were 250,000 shares of common stock outstanding.
On 4/1/21, we issued 54,000 shares of common stock.
On 6/1/21, we issued 36,000 shares of $100 par value, 6% cumulative preferred stock. This preferred stock is convertible into 72,000 shares of common stock.
On 9/1/21, we issued $9,000,000 of 4% bonds at par. These bonds are convertible into 60,000 shares of common stock. The marginal tax rate is 30%.
In addition, there are 130,000 options outstanding at 12/31/21. Each option entitles the holder to exchange it for 1 share of common stock at an exercise price of $22 per share.
The average market price for common stock for 2021 was $60.
Be sure to show your calculations!
Required: Answer:
How much is Basic Earnings Per Share?

How much is Diluted Earnings Per Share?

is no missing inf

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

How do you write a the security characteristic line equation (SCL) using the regression outputm with...

Finance
Q

the function F:(-1,1)toR dfined by F(x)=x/(1-x^2) is homeomorphism in a topology.. please explain the answer for me

Advance Math
Q

Define the CT numbers and describe the effect of the CT acquisition parameters (kVp, mAs, pitch)...

Biology
Q

In 200 words explain how loud is too loud? When is a sound too loud? What...

Physics
Q

1) Suppose you have particle on a ring with the wavefunction1: ?_m(?) = 1/(sqrt(2pi)) * e^(im(?)) (m =...

Physics
Q

no digital devices no photography of quizzes or exams no assistance from another individual or...

Biology
Q

38 A linear charge having linear charge density penetra a cube diagonally and then it...

Physics
Q

A object is moving parallel to principal axis of a concave mirror of focal length...

Physics
Q

Simplify the expression and eliminate any negative exponent s Assume that all letters denote positive...

Basic Math
Q

Twins graduate from college together and start their careers Twin 1 invests 2000 at the...

Basic Math
Q

Bank Reconciliation The bank reconciliation made by Winton, Inc., on August 31 showed: ...

Accounting
Q

please do general journal entry for each transactions total entries should be 9 ...

Accounting