Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Aztec - A Corp Co . is a manufacturer and distributer of precision navigation and guidance equipment. The following is information about the company s

Aztec-A Corp Co. is a manufacturer and distributer of precision navigation and guidance equipment. The following is information about the companys earnings and securities on 31 December 2025.
(Note: round all per share values to three decimal places)
Earnings and Shares
Net income $ 9,000,000
Average market price of common stock (after taking into account the stock split) $ 125
Year-End market price of common stock (after taking into account the stock split) $ 124
Tax rate 22%
Number of common shares outstanding ($1 par) at 1-Jan-20251,350,000
Number of 9% cumulative preferred shares outstanding ($100 par) at year-end 200,000
Each share of preferred shares is convertible into 2 shares of common stock
Total Dividends Paid during 2025735,000
Additional Information on Stock Transactions
On April 1,2025, Aztec-A Corp repurchased 127 thousand previously issued shares.
On September 1, Aztec-A Corp sold and issued an additional 60 thousand shares of common stock at $30.
On November 1, Aztec-A Corp sold and issued an additional 78 thousand shares of common stock at $29.
Shares Issuable per
Bonds Face/Carrying Value Int Rate $1,000 Bond
Series A Convertible $ 1,500,0006.0%35
Series B Convertible $ 1,800,0004.0%50
Options and Warrants Options Warrants
Number of shares issuable 150,000170,000
Exercise price $ 135 $ 110
What was your calculated Basic EPS?
What was your calculated Diluted EPS?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Using Financial Accounting Information The Alternative to Debits and Credits

Authors: Gary A. Porter, Curtis L. Norton

10th edition

978-1337276337, 1337276332, 978-1337517546, 1337517542, 978-1337491471

More Books

Students also viewed these Accounting questions

Question

What is Larmors formula? Explain with a suitable example.

Answered: 1 week ago

Question

What is job performance?

Answered: 1 week ago