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3 years ago

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a famous quarterback just signed a $18.0 million contract providing $3.6 million a year for 5 years. A less famous receiver sign

ed a $17.0 million 5-year contract providing $4 million now and $2.6 million a year for 5 years. The interest rate is 10%

1 answer:

Elina [12.6K]3 years ago

7 0

Plz take a pic for me to andwer

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M2-28. Computing and Comparing Income and Cash Flow MeasuresPenno Corporation recorded service revenues of $200,000 in 2020, of

Zina [86]

Answer:

Explanation:

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2 years ago

On January 2, 2018, Bonita Industries issued at par $2020000 of 5% convertible bonds. Each $1000 bond is convertible into 10 sha

Kryger [21]

Answer:

Bonita’s diluted earnings per share for 2018 would be $3,80

Explanation:

<em>Step 1 Calculate the Basic Earnings Per Share</em>

Basic Earnings Per Share = Income Attributable to Common Stockholders / Weighted Average Number of Common Stocks

<u>Income Attributable to Common Stockholders</u>

Net income $902000

<em>less</em> Interest on bonds ($2020000×5%)×75% ($75,750)

Income Attributable to Common Stockholders $826,250

Basic Earnings Per Share =$826,250 / 197000

=$4,19

<em>Step 1 Calculate the Diluted Earnings Per Share</em>

Diluted Earnings Per Share =<em>Adjusted</em> Income Attributable to Common Stockholders / <em>Adjusted</em> Weighted Average Number of Common Stocks

<u>Adjusted Income Attributable to Common Stockholders</u>

Income Attributable to Common Stockholders $826,250

Add Interest on bonds ($2020000×5%)×75% ($75,750)

Income Attributable to Common Stockholders $826,250

<u><em>Adjusted</em></u><u> Weighted Average Number of Common Stocks</u>

common stock outstanding 197000

add convertible bond ( $2020000/$1000×10 shares) 20200

Weighted Average Number of Common Stocks 217200

Diluted Earnings Per Share = $826,250/217200

= $3,80

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3 years ago

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There were no choices.

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