Reference no: EM131929468
Question - Penguin Ice Inc. was formed on June 30, 2012, through the merger of Penguin Corp. and Ice Inc. Penguin Ice issued a total of 2,500,000 shares of common stock to owners of the merged companies. The new company had the following transactions during 2014.
On April 1, 2014, the company issued an additional 600,000 shares of stock for cash. On July 1, 2014, Penguin Ice issued $1 million of 15-year, 5% convertible bonds at par. Each $1,000 bond converts to 25 shares of common at any interest date. None of the bonds have been converted to date. Penguin Ice is preparing its annual report for the fiscal year ending December 31, 2014, and will report after-tax net income of $13,800,000. The tax rate is 30%.
Instructions
Determine the following for 2014.
(a) The number of shares to be used for calculating:
(1) Basic earnings per share.
(2) Diluted earnings per share.
(b) The earnings figures to be used for calculating:
(1) Basic earnings per share.
(2) Diluted earnings per share.
What apr rate should you charge your customers
: What APR rate should you charge your customers? As a jewelry store manager, you want to offer credit, with interest on outstanding balances paid monthly.
|
Test an appropriate hypothesis and state conclusion
: Test an appropriate hypothesis and state your conclusion. (Make sure to check any necessary conditions and to state a conclusion in the context of the problem.)
|
Advanced structural analysis and design
: ENS 5147 Advanced structural analysis and design - Develop skills for FE mesh generation and refinement; FEA including specifying material properties
|
Government bond to that of buying corporate bond
: Compare the risk of buying a U.S. government bond to that of buying a corporate bond.
|
Determine the basic earnings per share
: On April 1, 2014, the company issued an additional 600,000 shares of stock for cash. Determine the Basic earnings per share
|
What is the expected return on portfolio
: What should the price of the stock be if instruments of similar risk are paying 12%? What is the expected return on a portfolio which is 120% in GE and -20% in
|
Confidence interval for the population mean
: The sample mean is found to be x overbar equals x=120.9 and the sample standard deviation is found to be s equals s=13.2.
|
Prepare entry to record the issuance of bonds and warrants
: On May 31, 2013, Core Company issued 1,000, 14%, 10-year $1,000 bonds at 106. Prepare the entry to record the issuance of the bonds and warrants
|
Find information online about price of homes in community
: Find information online about the price of homes in your community. Are they going up, staying the same, or going down, and why?
|