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
larisa [96]
3 years ago
13

During the current year, East Corporation had 4 million shares of common stock outstanding. 2,200, 4% convertible bonds, each wi

th $1,000 face value, were issued at face amount at the beginning of the year. East reported income before tax of $11 million and net income of $6.6 million for the year. Each bond is convertible into 10 shares of common stock. What is diluted EPS?
A. $0.90.
B. $0.95.
C. $0.89.
D. $0.94.
Business
1 answer:
ASHA 777 [7]3 years ago
8 0

Answer:

$1.64

Explanation:

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

According to given data

Net Income for the year =  $6,600,000

Outstanding shares =  4,000,000 shares

Number of shares to be converted = 2,200 x 10 share = 22,000

Outstanding shares after adjusting options = 4,00,000 + 22,000 = 4,022,000 shares

Diluted EPS = Net Income / Outstanding share after adjustment

Diluted EPS = $6,600,000 / 4,022,000 = $1.64

Note

Options are inconsistent with data given.

You might be interested in
Which of the following types of child care is most closely regulated by state and county government? A. Child care center B. Fam
Montano1993 [528]
I think this will be A ;)
6 0
3 years ago
Read 2 more answers
Which e-commerce business model used in procurement and sourcing has a seller-operated service that consists of a number of elec
SIZIF [17.4K]

Answer:

The correct answer is: electronic marketplace.

Explanation:

An electronic marketplace gathers sellers and suppliers through the worldwide web who offer their products virtually to fasten the purchase process and reach a larger number of consumers. These characters have a well-structured business even if it is not physical. Their objective is to give consumers to shop online without the need of going to the store in person.

5 0
3 years ago
Clara and Sandra collaborate to open a cafe. They come to an arrangement wherein Sandra manages the cafe from Monday to Wednesda
Shalnov [3]

Answer:

general partnership

Explanation:

General partnership -

It refers to the management of a particular business , by two or more partners in a predefined manner , where the profit is shares equally amongst the partners , is referred to as general partnership .

The decision about the business is taken along with all the partners ,like the financial decisions.

Any loss or profit is shares equally amongst all .

Hence , from the given scenario of the question ,

Sandra and Clara enters into a general partnership .

3 0
3 years ago
Choosing a differentiated targeting strategy has many​ benefits, but a potential downside is that​ __________.
Nesterboy [21]
<span>it requires a company or individual divide resources on multiple targets rather than one. Therefore, one must use these resources more efficiently because he or she is using the same amount, usually concentrated on one target, on multiple. A company should only use this strategy if it is extremely confident in its ability to market simultaneously to multiple groups.</span>
4 0
3 years ago
Which of the following statements about private club
algol [13]

Answer:

D: Guests must pay for any alcoholic beverages

they consume.

Explanation:

Guests in any establishment are expected to pay for any alcoholic beverages they consume. A private club is not necessary a profit-making venture, but a social or networking establishment. Membership to a private club is restricted. Members usually pay a membership to join and a regular subscription fee.

The club purchases foods and drinks served in its premises. The food and beverages are sold to members at fair prices. Members are required to pay for what they consume. Many clubs do not charge a service fee as it is catered for in the recurring subscription fees.

4 0
3 years ago
Other questions:
  • You must evaluate the purchase of a proposed spectrometer for the R&amp;D department. The base price is $60,000, and it would co
    7·1 answer
  • Paleoanthropologists would have a greater interest in ____
    14·2 answers
  • Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises. TIGER ENTERPRISES
    15·1 answer
  • The Aleutian Company uses departmental overhead rates. The Fabrication Department uses machine hours for an allocation base, and
    13·1 answer
  • Reagan is a new HR manager for a large company. She is concerned about the number of employees leaving the company and the lack
    8·1 answer
  • Assume a company sold a piece of equipment for $3,000. The original cost was $15,000 and the accumulated depreciation prior to t
    15·1 answer
  • Polly Khan is trying to calculate the current market rate given the following information: Investor’s have been requiring a 12%
    8·1 answer
  • Bloomfield Bakers accounts for its investment in Clor Confectionary under the equity method. Bloomfield carried the Clor investm
    5·1 answer
  • The average American’s real income today is about four times what it was in _________.
    7·1 answer
  • Two securities have a covariance of 0.022. If their correlation coefficient is 0.52 and one has a standard deviation of 15%, wha
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!