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Question 27 10 pts Gentry Company had 480,000 shares of common stock outstanding throughout 2019. It also had 30,000 shares of 5%, $100 par value
Question 27 10 pts Gentry Company had 480,000 shares of common stock outstanding throughout 2019. It also had 30,000 shares of 5%, $100 par value cumulative preferred stock outstanding throughout the year. Also outstanding throughout 2019 were (1) 30,000 options, with each option exercisable for one share of common stock at $30 per share, and (2) $2,000,000 face value of 8% convertible bonds, with each $1,000 bond convertible to 35 shares of common stock. The bonds were issued at par value. Gentry's tax rate is 30%, and net income for 2019 was $3,670,000. The average market price for Gentry common stock for 2019 was $36. Calculate (1) the 2019 basic earnings per share for Gentry, (2) the earnings per incremental share for the options (showing both the numerator and the denominator), and (3) the earnings per incremental share for the convertible bonds. As appropriate, round amounts to the nearest penny. HTML Editor De A - IK EE117xx, VX T TH 12pt y Paragraph
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