Question

given the following year end information compute Greeneood corporations basic and diluted earnings per share. net...

given the following year end information compute Greeneood corporations basic and diluted earnings per share.
net income 15,000
the income tax rate 30%
4000 shares of common stock were outstanding the entire year.
500 shares of 10% $50 par (and issuance price) convertible preferred stock were outstanding the entire year. dividends of 2500 were declared on this stock during the year. each share of prefferred stock is convertible into 5 shares of commin stock.

need basic earning per share
diluted earnings per share

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
6. Earnings per Share with Convertible Bonds On January 1, 2019, Houston Company issued, at par,...
6. Earnings per Share with Convertible Bonds On January 1, 2019, Houston Company issued, at par, 600 $1,000 6% bonds. Each bond is convertible into 10 shares of common stock. Houston’s net income for 2019 was $600,000. The tax rate was 20%. Throughout 2019, 100,000 shares of $10 par common stock were outstanding. In addition, 1,000 shares of 5% $100 par cumulative preferred stock were outstanding. No preferred stock dividends were declared during 2019. None of the bonds were converted...
The information below pertains to Tamarisk Company for 2021. Net income for the year $1,140,000 6%...
The information below pertains to Tamarisk Company for 2021. Net income for the year $1,140,000 6% convertible bonds issued at par ($1,000 per bond); each bond is convertible into     30 shares of common stock 1,990,000 6% convertible, cumulative preferred stock, $100 par value; each share is convertible      into 3 shares of common stock 4,110,000 Common stock, $10 par value 6,020,000 Tax rate for 2021 20% Average market price of common stock $25 per share There were no changes during...
Last year, East Corporation reported basic and diluted earnings per share in an amount less than...
Last year, East Corporation reported basic and diluted earnings per share in an amount less than basic EPS due to outstanding stock options. Those options were exercised on January 1 of the current year. During the current year, East Corporation had 15.5 million shares of common stock outstanding. Three thousand nine hundred 12% convertible bonds, each with $1,000 face value, were issued at face amount at the beginning at the beginning of the year. East reported net income of $3.9...
7. Earnings per Share with Options Kearney Company’s net income for 2019 was $600,000. The tax...
7. Earnings per Share with Options Kearney Company’s net income for 2019 was $600,000. The tax rate was 20%. The only potentially dilutive securities outstanding were 900 options issued during 2018. Each option can be exercised for one share of common stock at $20 per share. None has been exercised, and 100,000 shares of common stock were outstanding during 2019. In addition, 2,000 shares of 6% $100 par non-cumulative preferred stock were outstanding. Kearney’s Board of Directors declares total dividends...
Paul Company had 100,000 shares of common stock outstanding on January 1, 2021. On September 30,...
Paul Company had 100,000 shares of common stock outstanding on January 1, 2021. On September 30, 2021, Paul sold 58,000 shares of common stock for cash. Paul also had 15,000 shares of convertible preferred stock outstanding throughout 2021. The preferred stock is $100 par, 7%, and is convertible into 3 shares of common for each share of preferred. Paul also had 600, 9%, convertible bonds outstanding throughout 2021. Each $1,000 bond is convertible into 30 shares of common stock. The...
Problem 16-8 The information below pertains to Vaughn Company for 2018. Net income for the year...
Problem 16-8 The information below pertains to Vaughn Company for 2018. Net income for the year $1,230,000 8% convertible bonds issued at par ($1,000 per bond); each bond is convertible into     30 shares of common stock 2,090,000 6% convertible, cumulative preferred stock, $100 par value; each share is convertible      into 3 shares of common stock 3,830,000 Common stock, $10 par value 6,110,000 Tax rate for 2018 40% Average market price of common stock $25 per share There were no...
Question # 4 Basic and diluted earnings per share Throughout the calendar year 2020, Kali Corporation...
Question # 4 Basic and diluted earnings per share Throughout the calendar year 2020, Kali Corporation has 400,000 common shares outstanding (no preferred shares issued). In addition, Collie has 5,000, 20-year, 7% bonds outstanding, issued at par in 2018. Each $ 1,000 bond is convertible into 20 common shares after June 30, 2021. Collie reported net income of $ 600,000 for calendar 2020. Their income tax rate is 30%. Instructions Calculate basic and diluted earnings per share for 2020. Question...
Oriole Inc. had net income for the current year ending December 31, 2017 of $919,840. During...
Oriole Inc. had net income for the current year ending December 31, 2017 of $919,840. During the entire year, there were 509,000 common shares outstanding. The company had two classes of preferred shares outstanding: the Class A preferred shares were $2.00 cumulative shares of which 12,000 were outstanding, and were convertible to common shares at a rate of 1:1. There were 105,000 $6.00 Class B non-cumulative preferred shares outstanding that were also convertible at a rate of 1:1. Oriole had...
The following information was taken from the books and records of Cullumber, Inc.: 1. Net Income...
The following information was taken from the books and records of Cullumber, Inc.: 1. Net Income $391,400 2. Capital structure: a. Convertible 6% bonds. Each of the 290, $1,000 bonds is convertible into 50 shares of common stock at the present date and for the next 10 years. 290,000 b. $10 par common stock, 190,000 shares issued and outstanding during the entire year. 1,900,000 c. Stock warrants outstanding to buy 15,040 shares of common stock at $20 per share. 3....
Information from the financial statements of Topps Fambricators, Inc., Included the following : Common shares 100,000...
Information from the financial statements of Topps Fambricators, Inc., Included the following : Common shares 100,000 Convertible preferred shares $100 par, 5% (convertible into 36,000 shares of common) 12,000 10% convertible bonds (convertible into 25,000 shares of common) $1,000,000 Stock options for 120,000 shares of common stock (option price of $20 per share; market price of $25 per share) Topps's net income for the year ended December 31,2018, is $680,000. The income tax rate is 40%. Topps paid dividends of...