1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Simora [160]
3 years ago
5

Bonita Industries had 205000 shares of common stock, 19100 shares of convertible preferred stock, and $1496000 of 5% convertible

bonds outstanding during 2021. The preferred stock is convertible into 39000 shares of common stock. During 2021, Bonita paid dividends of $0.90 per share on the common stock and $4 per share on the preferred stock. Each $1,000 bond is convertible into 30 shares of common stock. The net income for 2021 was $592000 and the income tax rate was 30%.
What is the basic earnings per share for 2011 is (rounded to the nearest cent)
a. $2.94.
b. $3.22.
c. $3.35.
d. $3.60.
What is the diluted earnings per share for 2011 is (rounded to the nearest cent)
a. $2.77.
b. $2.81.
c. $3.05.
d. $3.33.
Business
1 answer:
s2008m [1.1K]3 years ago
8 0

Answer:

EPS is $2.8 per share

Diluted EPS is $2.4 per share

Explanation:

Basic Earning per share is calculated dividing Earning for the year excluding preferred dividend by weighted average number of shares.

Basic EPS = (Net Income - Preferred dividends) / Weighted Average numbers of share

Basic EPS = ($592,000 - ( 19,100 x $0.9 ) / 205,000 = $2.8 per share

Diluted earning per share is calculated by adjusting all the convertible share options or securities in the outstanding share.

Diluted EPS = (Net Income - Preferred dividends) / Diluted numbers of share

Diluted EPS = ($592,000 - $17,190) / ( 205,000 + 39,000 )

Diluted EPS = $2.4 per share

All  the option given are inconsistent with data given.

You might be interested in
A firm's business _______ should include a description of the need the firm will fill, the operations of the business, its compo
andrew11 [14]

The Business Plan of an organization should show the following key components: Value Proposition, Operations, Components and Functions, projected revenue, and expenditure.

<h3>What is a Business Plan?</h3>

This refers to a document that spells out the future goals, plans and activities of a business as well as how it plans to achieve goals those objectives.

A business plan is useful for:

  • Startups or existing businesses that want to attract investors
  • An existing business that is planning to expand, scale up or introduce new products
  • An existing business that is looking at a merger and acquisition.

Please see the link below for more about Business Plan:

brainly.com/question/25311149

8 0
2 years ago
Becky Smith signed a note in the amount of $200,000 in favor of Country Home Loans, Inc., to obtain a loan to buy a house in Mar
igomit [66]

Answer:

The explanation is given below:

Explanation:

According to this situation it can be defined as

Pursuant to U.C.C. § 3-203, transfer of instrument is when an instrument is delivered by a person other than an issuer for the purpose of giving to a receiver the right to enforce the instrument. The transfer vests in a transferee the transferor's right to enforce the instrument. The rights include the right as a holder in due course. However, the transferee cannot acquire rights of a holder in due course by a transfer, directly or indirectly, from a holder in due course if the transferee engaged in fraud or illegality affecting the instrument. When an instrument is transferred for value , a transferee does not become a holder because of lack of indorsement. Moreover, when a transferor purports to transfer less than the entire instrument, the negotiation of the instrument does not occur.

The best response of Fannie mae’s to this argument is because Becky Smith signed a note and she cannot own that property as the note was in country home loans name and he defaulted payment under that law.

8 0
3 years ago
Dr. Evil presents the sound of a buzzer to his pet rabbit, and he follows it with the delivery of a small electric shock. After
alexdok [17]

Answer:

Reconditioning

Explanation:

Reconditioning means to "condition again" so the rabbit will demonstrate and condition the fear of the buzzer again.

5 0
3 years ago
Which legal form of business ownership does the government have the most control in?
kirill115 [55]

Answer:

i am not sure for the first one, but for the second its a corporation

Explanation:

there are a lot of regulations connected with corporations and the taxation of these organizations

5 0
3 years ago
Read 2 more answers
The master budget of Sheridan Company shows that the planned activity level for next year is expected to be 50000 machine hours.
barxatty [35]

Answer:

$1,350,000

Explanation:

Calculation to determine the total manufacturing overhead costs

First step is to calculate the Variable overhead

Variable overhead= $720,000 + $180,000 +$150,000

Variable overhead=$1,050,000

Second step is to calculate Unitary variable overhead

Unitary variable overhead= $1,050,000/50,000

Unitary variable overhead= 21

Now let calculate the total manufacturing overhead costs

For 60,000 units:

Total Manufacturing Overhead Costs = 21*60,000 + 90,000

Total Manufacturing Overhead Costs= $1,350,000

Therefore the total manufacturing overhead costs is $1,350,000

6 0
3 years ago
Other questions:
  • According to Modigliani and Miller (MM), in a world with corporate income taxes, the optimal capital structure calls for approxi
    9·1 answer
  • Which of the following correctly describes how price adjustments eliminate a shortage?
    15·1 answer
  • The archeological records of egyptian cities are less detailed due to the
    13·1 answer
  • What is the apr on a loan that charges interest at the rate of 1.4% per month?
    14·1 answer
  • Consider the following scenario. Two friends, Rachel and Joey, enjoy baking bread and making apple pies. Rachel takes two hours
    8·1 answer
  • Sticky Company’s merchandise inventory balance at year end is $15,050, but a physical count reveals that only $15,000 of invento
    9·1 answer
  • Adams Trophies makes and sells trophies it distributes to little league ballplayers. The company normally produces and sells bet
    5·1 answer
  • Pearl Products Limited of Shenzhen, China, manufactures and distributes toys throughout South East Asia. Three cubic centimeters
    15·1 answer
  • Which of the following employees is most at risk of repetitive strain injury?
    15·2 answers
  • Opportunity costs are classified as ____ costs in project analysis. multiple choice question. irrelevant sunk relevant intangibl
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!