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At December 31, 2022, you have the following information for preparing earnings per share for the Ford Corp. Net income for 2022 Common stock,
At December 31, 2022, you have the following information for preparing earnings per share for the Ford Corp. Net income for 2022 Common stock, $1 par Shares outstanding on January 1 Shares purchased and retired on February 1 2-for-1 split on July 31 Shares sold for cash on September 1 Preferred Stock, 10%, $70 par, cumulative, nonconvertible Preferred stock, 8%, $50 par, cumulative, convertible into 4 million shares of common stock Incentive stock options outstanding, fully vested, for 4 million shares of common stock, exercise price is $15 Bonds payable, 10%, convertible into 20 million shares of common stock $500 million 150 million shares 24 million shares 18 million shares $ 70 million $100 million $200 million Additional info: The market price of the common stock averaged $20 during 2022. The convertible preferred stock and the bonds payable had been issued at par in 2020. The tax rate for 2022 is 25%. For the year ended December 31, 2022, compute the following: 1. Basic earnings per share 2. Diluted earnings per share. 3. What would go in the notes???
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