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    "meta_title": "[Solved] Question: The information below pertains | SolutionInn",
    "meta_description": "Answer of - Question: The information below pertains to Payson Company for 2015. Net income for the year $8,670,000. There was $5 | SolutionInn",
    "meta_keywords": "question,information,below,pertains,payson,company,2015,net,income,year,$8,670,000,$5",
    "question_title_h1": "Question: The information below pertains to Payson Company for 2015. Net income for the year $8,670,000. There was $5 million of 6% convertible bonds issued",
    "question_title": "Question: The information below pertains to Payson Company for 2015. Net income",
    "question_title_for_js_snippet": "Question  The information below pertains to Payson Company for 2015  Net income for the year $8,670,000  There was $5 million of 6  convertible bonds issued at par ($1,000 per bond)  each bond is convertible into 60 shares of common stock  There was $2,500,000 of 4  convertible, cumulative preferred stock, $100 par value issued and outstanding  each share is convertible into 4 shares of common stock  Common stock issued and outstanding, $1 par value, total $9,500,000  Tax rate for 2015 was 40   Averagemarketpriceofcommonstock$18pershare  There were no changes during 2015 in the number of common shares, preferred shares, or convertiblebonds outstanding  There is no treasury stock  The company also has common stock options (granted in aprior year) to purchase 120,000 shares of common stock at $12 per share  Required  Show all calculations  They should be embedded in cells as much as possible  If they are embedded in cells you need not show them separately  Compute basic earnings per share for 2015  Compute diluted earnings per share for 2015  If any potentially dilutive securities would be anti dilutive, omit it from diluted EPS and explain why it is antidilutive ",
    "question_description": "<p><strong>Question:<\/strong><\/p> <p>The information below pertains to Payson Company for 2015.<\/p> <ul> <li>Net income for the year $8,670,000.<\/li> <li>There was $5 million of 6% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 60 shares of common stock.<\/li> <li>There was $2,500,000 of 4% convertible, cumulative preferred stock, $100 par value issued and outstanding; each share is convertible into 4 shares of common stock.<\/li> <li>Common stock issued and outstanding, $1 par value, total $9,500,000.<\/li> <li>Tax rate for 2015 was 40%.<\/li> <li>Averagemarketpriceofcommonstock$18pershare.<\/li> <\/ul> <p>There were no changes during 2015 in the number of common shares, preferred shares, or convertiblebonds outstanding. There is no treasury stock. The company also has common stock options (granted in aprior year) to purchase 120,000 shares of common stock at $12 per share.<\/p> <p><u>Required: Show all calculations. They should be embedded in cells as much as possible. If they are embedded in cells you need not show them separately.<\/u><\/p> <ol> <li>Compute basic earnings per share for 2015.<\/li> <li>Compute diluted earnings per share for 2015. If any potentially dilutive securities would be anti-dilutive, omit it from diluted EPS and explain why it is antidilutive.<\/li> <\/ol>",
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        "edition": "2nd Edition",
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