Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Information from the financial statements of Henderson-Niles Industries included the following at December 31, 2016: Common shares outstanding throughout the year 100 million Convertible preferred

Information from the financial statements of Henderson-Niles Industries included the following at December 31, 2016: Common shares outstanding throughout the year 100 million Convertible preferred shares (convertible into 25 million shares of common) 80 million Convertible 10% bonds (convertible into 19.5 million shares of common) $ 2,900 million Henderson-Niles net income for the year ended December 31, 2016, is $980 million. The income tax rate is 40%. Henderson-Niles paid dividends of $2 per share on its preferred stock during 2016. Required: Compute basic and diluted earnings per share for the year ended December 31, 2016. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

Basic 820/100=8.20 this is correct

i need for Dilutet ??? answer 1 154 /144.5 is incorrect

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_2

Step: 3

blur-text-image_3

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

Accounting for Governmental and Nonprofit Entities

Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus

15th Edition

978-0256168723, 77388720, 256168725, 9780077388720, 978-007337960

More Books

Students also viewed these Accounting questions

Question

Are transitions adequate for marking time and sequence? (453)

Answered: 1 week ago