41 of 60 In 2020, Owifish Co. had the following information Net Income S115,000 Ordinary shares outstanding: 200,000 Convertible preferred shares 1.000, 10%, 5100 par These shares are convertible to 40 shares each Convertible bonds: 600, 7, 51,000 par These bands are convertible to 100 shares each Stock options outstanding 10.000 These options are convertible to share of stock at $15 persone Average market price of the share 520 Tax rate 40 Owifi's Gluted EPS in 2020 is closest to 5045 b5053 c. 5047 EU Which of the following is least likely to be false? O a When the carrying amount of an asset is higher than its tax base a deferred tax asset should be recognized Ob When the carrying amount of a fiability is higher than its tax base, a deferred tax liability should be recognized OC When the carrying amount of an asset is higher than its tax base, a deferred tax liability should be recognized Previous page 40 41 42 43 Next page of 60 Which of the following statements is most likely true? o a LIFO ending inventory will always be higher with a perpetual inventory system than that with a penodic inventory system OB LIFO ending inventory will always be lower with a perpetual inventory system than that with a periodic inventory system OC FIFO ending inventory will always be the same regardless of whether a perpetual or apenodic inventory system is used Suro Previous page 41 42 44 45 Next pogo