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Calculate basic and diluted earnings per share. Enter the amounts to be reported as Basic Eps and diluted EPS. Rawlings Manufacturing reported net income of
Calculate basic and diluted earnings per share. Enter the amounts to be reported as Basic Eps and diluted EPS. Rawlings Manufacturing reported net income of $345,000 for the year-ended December 31, 20X1. The company nad 16.000 shares of outstanding convertible preferred stock with a par value of $10 per share and a stated dividend rate of 7%. Dividends were paid in 20X1 at the stated rate. Each share of preferred stock can be converted into two shares of common stock. Rawlings also had $300,000 of convertible bonds outstanding that were sold at par and paid a stated rate of interest of 6%. Each $1,000 bond can be converted into 18 shares of common stock. Rawlings had 18,000 stock options outstanding that had an exercise price of $50 per option. The average price of Rawlings common stock during 20x1 was $61. The cloning price of the company's stock on the last day of trading in 20x1 was $57 per share. Rawlings had 151.700 shares of common stock issued and outstanding during 20X1 and a tax rate of 42%
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Calculate basic and diluted earnings per share. Enter the amounts to be reported as Basic Eps and diluted EPS.
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