Question
Aasir Co. had 200,000 shares of common stock, 20,000 shares of convertible preferred stock, and $1,000,000 of 10% convertible bonds outstanding during 2019. The preferred
Aasir Co. had 200,000 shares of common stock, 20,000 shares of convertible preferred stock, and $1,000,000 of 10% convertible bonds outstanding during 2019. The preferred stock is convertible into 40,000 shares of common stock. During 2019, Aasir paid dividends of $1.20 per share on the common stock and $4 per share on the preferred stock. Each $1,000 bond is convertible into 45 shares of common stock. The net income for 2011 was $800,000 and the income tax rate was 30%.
14. Basic earnings per share for 2019 is (rounded)*
15. Diluted earnings per share for 2019 is (rounded)*
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