Reference no: EM132821457
Nacho Company records reflected the following information for the end of its fiscal year, June 30:
1. Bonds payable, 8%, $300,000 par value, issued 5 years ago. Each $1,000 bond is convertible into 55 common shares. No bonds have been converted to date.
2. Preferred shares, $0.30; each preferred share is convertible into 2 common shares, cumulative, non-participating; 15,000 shares issued and outstanding.
3. Common stock conversion rights for the 8% bonds above was $50,000.
4. Common shares, no-par value, 75,000 shares issued and outstanding to October 31; 150,000 more shares were issued for cash on October 31; 33,000 shares were issued for land on May 1.
5. No dividends have been declared and none are in arrears. Net income was $183,000. The income tax rate is 30%.
Required:
Problem 1: What is the required earnings per share (EPS) amounts.
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