Do you notice what I typed above the screenshot, which is located above? In your opinion, is this the correct way to describe what you see on H26 of the worksheet called EPS that make up the workbook called ACC 309 7-1 Final Project Milestone Three? I am referring to the comment (*1,775,000 is the overall total outstanding shares of common stock after the board of directors of this company converted 5,000 convertible bonds into and issuing 25,000 outstanding shares of common stock and issuing 1,750,000 outstanding shares of common stock.)

Do I have to multiply 5,000 outstanding shares of Preferred stock that were issued by the board of directors of Peyton Approved and found on cell F29 of the Revised Balance Sheet as of December 31, 20XX by 10 shares of Peyton Approved's common stock to calculate the value that should be entered on H16 for Common Shares Outstanding after conversion? I am referring to the question, which asks, "(a) issuing 10,000 share of 10% $100 par value convertible preferred stock, where share can be converted into 10 shares of Peyton common stock?"

A 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 A B Current Assets: Cash Marketable Securities Accounts Receivable Baking Supplies Merchandise Inventory Prepaid Rent Prepaid Insurance Misc. Supplies Total Current Assets Assets Long Term/Fixed Assets: $ 1,488,999.34 $5,235,000.00 $7,092,495.88 $1,605,098.52 $ 128,152.63 $ 71,877.07 207,834.14 17,647.42 $ $ D E $15,847,105.00 F Peyton Approved Balance Sheet As of December 31, 20XX G Liabilities and Owners' Equity Current Liabilities: Accounts Payable Wages Payable Interest Payable Current Portion of Bonds Payable Income taxes currently payable Accrued Pension Liability Accrued Employees Health Insurance Lease Liability Contingent Liability - Lawsuit Deferred Tax Liability Total Current Liabilities Long Term Liabilities: H Bonds Payable 10%, 20 year $ 1,555,212.85 $ 250,203.31 $ 21,888.22 $ 1,000,000.00 $ 990,167.91 $ 107,041.70 $ 43,781.91 $ 101,514.00 $ $ 52,325.25 $4,000,000.00 $ 4,122,135.15