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At December 31, 2009, the financial statements of Hollingsworth Industries included the following:
Net income for 2009 $560 millionBonds payable, 10%, convertible into 36 million shares of common stock $300 million
Common stock:
Shares outstanding on January 1 400 millionTreasury shares purchased for cash on September 1 30 million
Additional data:The bonds payable were issued at par in 2007. The tax rate for 2009 was 40%
Required:
Compute basic and diluted EPS for the year ended December 31, 2009.
if a company declares a 2 for 1 stock split when its stock was trading for $40 just prior to the announcement and it has 2 million shares outstanding, what will the theoretical market price of the stock be just after the stock split? Are stockhold..
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On December 31, 2006, Crawford Co. estimated that 1.5% of its net sales of $400,000 will become uncollectible.The company recorded this amount as an addition to Allowance for Doubtful Accounts. On May 11, 2007, Crawford Co.
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