Reference no: EM133121417
QUESTION - EARNINGS PER SHARE - Roadrunner Inc. shows the following data at December 31, 2019:
1. Preferred shares, $2, cumulative, each share convertible into one common share, 50,000 shares authorized, 35,000 shares issued and outstanding throughout 2019 $1,750,000.
2. Common shares, unlimited number authorized; issued and outstanding at January 1, 2019 was 60,000; issued another 120,000 shares on May 1, 2019 800,000.
3. Convertible bonds payable, 8% coupon rate; each $1,000 bond is convertible into 40 common shares 1,000,000.
4. Bond payable, 6% coupon rate 2,000,000.
5. Warrants, 20,000; each warrant plus $30 entitles the holder to get one common share 60,000.
6. 100,000 rights; 10 rights plus $25 allows the holder to receive common share 0.
7. Net income for the year ending December 31, 2019 336,000.
8. Discontinued operation - gain, net of tax 21,000.
9. Average market value per common share during 2019 $40.
10. The income tax rate is 30%.
11. The convertible bonds, warrants and rights were outstanding throughout 2019.
Required - Show the required earnings per share presentation as at December 31, 2019?
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