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sladkih [1.3K]
3 years ago
13

On January 1, 2021, Tonge Industries had outstanding 480,000 common shares ($1 par) that originally sold for $30 per share, and

6,000 shares of 10% cumulative preferred stock ($100 par), convertible into 60,000 common shares.
On October 1, 2021, Tonge sold and issued an additional 16,000 shares of common stock at $37. At December 31, 2021, there were 22,000 incentive stock options outstanding, issued in 2020, and exercisable after one year for 22,000 shares of common stock at an exercise price of $34. The market price of the common stock at year-end was $52. During the year, the price of the common shares had averaged $44.

Net income was $940,000. The tax rate for the year was 40%.

Required:

Compute basic and diluted EPS for the year ended December 31, 2021. (Enter your answers in thousands.)

Business
2 answers:
harkovskaia [24]3 years ago
8 0

Answer:

Basic EPS = $1.82

Diluted EPS = $1.72

Explanation:

The picture attached herewith shows the calculation to the problem and it is so explanatory.

ira [324]3 years ago
5 0

Answer:

842,000 shares

Explanation:

Please the solution to the given problem in the file attached below

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Answer:

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Explanation:

Given:

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<u>Question asked:</u>

The <u>opportunity cost of using this </u><u>building for a hardware store</u> ?

<u>Solution:</u>

As we know:

Opportunity\ cost =\frac{What\ you\ sacrifice}{What\ you\ gain} \\ \\

What you sacrifice = Value of a cafe + Value of a craft store + Value of a bookstore

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What you gain = Value of a hardware store

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Thus, the opportunity cost of using this building for a hardware store is $2.5

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Answer:

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