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.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Bonita Industries had 205000 shares of common stock, 19100 shares of convertible preferred stock, and $1496000 of 5% convertible bonds ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
What form of municipal government combines the executive and legislative functions into a single body?
Answers (1)
Stein agrees to pay Choi and Amal $10,000 each for a one-third (33 1/3%) interest in the Choi and Amal partnership. Immediately prior to Stein's admission, each partner had a $30,000 capital balance.
Answers (1)
A consumer is 20 years old and expects to live to age 80. He has a current wealth of $100,000, an annual income of $100,000, and plans on retiring when his is 60 years old. Assume he smooths his consumption according to the life-cycle hypothesis.
Answers (1)
Which of the following costs is a mixed cost? 1. Salary of a factory supervisor 2. Electricity costs of $2 per kilowatt-hour 3. Rental costs of $5,000 per month plus $.30 per machine hour of use 4. Straight-line depreciation on factory equipment
Answers (1)
Golddex Corporation has decided to sell some old equipment to make room for a new project. The salvage value of the equipment is $220,000. The firm would be able to recover $60,000 in working capital when the equipment is sold. Their tax rate is 21%.
Answers (1)
New Questions in Business
Liquidity refers to: A. A company's cash availability B. A company's ability to general sales from use of its assets C. A company's operating cycle D. A company's amount of financial leverage E. A company's ability to meet its debt obligations
Answers (1)
Biscayne Bay Water Inc. bottles and distributes spring water. On May 14 of the current year, Biscayne Bay Water Inc. reacquired 2,300 shares of its common stock at $49 per share. On September 6, Biscayne Bay Water Inc.
Answers (1)
Greg wants to encourage his boss to consider a new process for evaluating employee performance. what type of report will he most likely prepare?
Answers (1)
What business messages are better organized directly, and which is better organized indirectly?
Answers (1)
Usiness-level strategies detail commitments and actions taken to provide value to customers and gain competitive advantage by exploiting core competencies in Group of answer choices the selection of industries in which the firm will compete.
Answers (2)