Information concerning the capital structure of Martinez Corporation follows: Common shares outstanding Convertible preferred shares...
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Information concerning the capital structure of Martinez Corporation follows: Common shares outstanding Convertible preferred shares outstanding 9% convertible bonds 2023 $3.99 $2.99 $3.57 $3.73 December 31, 108000 shares 10800 shares $2000000 2022 108000 shares 10800 shares $2000000 During 2023, Martinez paid dividends of $1.00 per common share and $2.50 per preferred share. The preferred shares are non- cumulative, and convertible into 21600 common shares. The 9% convertible bonds are convertible into 40000 common shares. Net income for calendar 2023 was $506608. Assume the income tax rate is 30%. What is the diluted earnings per share for 2023?
Information concerning the capital structure of Martinez Corporation follows: During 2023, Martinez paid dividends of \$1.00 per common share and $2.50 per preferred share. The preferred shares are noncumulative, and convertible into 21600 cornmon shares. The 9% convertible bonds are convertible into 40000 common shares. Net income for calendar 2023 was $506608. Assume the income tax rate is 30%. What is the diluted earnings per share for 2023 ? $3.99 $2.99 $3.57 $3.73
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