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In 2 0 2 2 , Cullumber Ltd . issued $ 5 9 , 0 0 0 of 1 0 % bonds at par, with
In Cullumber Ltd issued $ of bonds at par, with each $ bond being convertible into common shares. The
company had revenues of $ and expenses of $ for not including interest and tax. Assume a tax rate of
Throughout common shares were outstanding, and none of the bonds were converted or redeemed. For simplicity,
assume that the convertible bonds' equity element is not recorded.
a
Calculate income available to common shareholders.
Income available to common shareholders
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