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On January 2, 2025, Carla Vista Co. issued at par $1920000 of 6% convertible bonds. Each $1000 bond is convertible into 10 shares of common
On January 2, 2025, Carla Vista Co. issued at par $1920000 of 6% convertible bonds. Each $1000 bond is convertible into 10 shares of common stock. No bonds were converted during 2025. Carla Vista had 196000 shares of common stock outstanding during 2025. Carla Vista's 2025 net income was $901000 and its income tax rate was 30%. Carla Vista's diluted earnings per share for 2025 was $4.56 $4.60. $4,97. $4,73
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Auditing Cases An Interactive Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
6th edition
133852105, 978-0133852103
