Reference no: EM132536406
Question - For the fiscal year ended December 31, 2019, a company reported Net Income of $7,000,000. The company had 3,000,000 shares of $1 par value common stock outstanding all year. In addition, the company had $500,000 par value of 10% cumulative, non-convertible preferred stock outstanding all year. In December 2019, the company declared and paid a preferred dividend of $50,000, as well as a $0.10 per share dividend to common shareholders.
Furthermore, on January 1, 2019 the company issued at face value a $1,000,000, 6% convertible bond with annual interest payments due at the end of each year. The bonds are convertible into 200,000 shares of the company's $1 par value common stock. The company's tax rate is 21% (and there are no temporary or permanent book-tax differences).
Required - What did the company report for basic earnings per share on its December 31, 2019 Income Statement?
A. $2.28.
B. $2.17.
C. $2.20.
D. $2.22.
E. $2.32.
|
Demonstrate how to calculate the period costs
: Demonstrate how to calculate the period costs. Direct material used $150,000,Selling costs $5,000, Depreciation on factory equipment $70,000
|
|
What is the breakeven volume in patient visits
: The average variable cost per patient visit is expected to be $7.64 and the average fee collected per patient visit is $4.64. What is the breakeven volume
|
|
Extra Credit-Compliance During COVID-19
: Name a company that has upped its compliance program during these last couple of months as a way to respond to the COVID-19 pandemic.
|
|
How much work does the driver do
: The driver pushes the 1,160 kg car to the gas station. If a 190 N force is required to keep the car moving, how much work (in J) does the driver do?
|
|
What did the company report for basic earnings per share
: For the fiscal year ended December 31, 2019, a company reported Net Income of $7,000,000. What did the company report for basic earnings per share
|
|
Difference between points a and b in the circuit
: Calculate the electrical potential difference between points a and b in the circuit.
|
|
Find when does absorption costing net operating income
: Find When does absorption costing net operating income and variable costing net operating income require reconciliation? Explain different situations.
|
|
Find the intensity of the current formed in the wire
: a) Find the intensity of the current formed in the wire. b) Find the magnitude of the magnetic field in the center of the circle
|
|
What will be the impact on company profit
: What will be the impact on company's profit if sales mix shifts between low margin and high margin products? Explain different possible scenarios.
|