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On January 1, 2014, Crocker Company issued 10-year, $3,087,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 22 shares of Crocker common stock. Crocker’s net income in 2014 was $338,000, and its tax rate was 45%. The company had 101,000 shares of common stock outstanding throughout 2014. None of the bonds were converted in 2014.
(a) Compute diluted earnings per share for 2014.
(b) Compute diluted earnings per share for 2014, assuming the same facts as above, except that $1,010,000 of 6% convertible preferred stock was issued instead of the bonds. Each $100 preferred share is convertible into 5 shares of Crocker common stock.
He guesses that the equipment could be sold at that time for 4 percent of its original cost. Jim uses a 16 percent discount rate.
calculation of material cost variance labor variance and over head variance.rax company has developed the following
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