Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Current Attempt in Progress Amy Dylan, controller at Marizold Pharmaceutical Industriss, a public company, is currantly praparing the caleulation for basic and diluted earnings per

Current Attempt in Progress
Amy Dylan, controller at Marizold Pharmaceutical Industriss, a public company, is currantly praparing the caleulation for basic and
diluted earnings per share and the ralated disclosure for Mariyold's financial statamants. Below is selected financial information for
the fiscal year anded June 30,2025.
Shareholders' equity
The following transactions have also occurred at Marigold.
Options ware granted on July 1,2024, to purchase 190,000 shares at $16 per share. A/though no options ware exarciesd
during fiscal year 2025, the average price per common share during fiscal year 2025 was $20 per share.
Each bond was issued at face value. The 9% convertible bonds will convert into common stock at 50 shares per $1,000 bond.
The bonds are exarcisable after 5 years and were issued in fiscal yaar 2024.
The preferred stock was issued in 2024.
There are no preferred dividends in arrars; however, preferred dividends wers not declarad in facal year 2025.
The 990,000 shars of common stock wers outstanding for the entire 2025 fiscal year.
Net income for fiscal year 2025 was $1,520,000, and the avarage income tax rate is 20%.
For the fiscal year ended June 30,2025, calculate the following for Marigold Pharmaceutical Industries. (Round answers to 2 decimal
places, eg.2.45.)
Basic earnines per share
Basicearnings pershare $
b. Dilutad earnings per share
Dilutad earnings per share $
eTextbook and Media
image text in transcribed

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

College Accounting A Practical Approach 1-15

Authors: Jeffrey Slater

4th Edition

013142050X, 978-0131420502

More Books

Students also viewed these Accounting questions

Question

What is the likelihood function for a logistic regression model?

Answered: 1 week ago

Question

What are the differences between dismissal and discharge?

Answered: 1 week ago