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Net income for the year $ 1,210,000 7 % convertible bonds issued at par ($ 1,000 per bond); each bond is convertible into 30 shares
Net income for the year | $1,210,000 | |
7% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 30 shares of common stock | 1,990,000 | |
6% convertible, cumulative preferred stock, $100 par value; each share is convertible into 3 shares of common stock | 3,860,000 | |
Common stock, $10 par value | 5,880,000 | |
Tax rate for 2021 | 20% | |
Average market price of common stock | $25 per share |
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