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10 June, 22:49

Swifty Corporation had 190000 shares of common stock, 20700 shares of convertible preferred stock, and $1540000 of 4% convertible bonds outstanding during 2021. The preferred stock is convertible into 40400 shares of common stock. During 2021, Swifty paid dividends of $1.00 per share on the common stock and $3 per share on the preferred stock. Each $1,000 bond is convertible into 30 shares of common stock. The net income for 2021 was $605000 and the income tax rate was 35%.

a. $2.22

b. $2.38

c. $2.62

d. $2.18

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Answers (1)
  1. 10 June, 23:36
    0
    The answer to this is d
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