Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

URGENT!! 30494 Marigold Corp, had 208000 shares of common stock, 20400 shares of convertible preferred stock, and $1470000 of 6% convertible bonds outstanding during 2021.

URGENT!! 30494
image text in transcribed
Marigold Corp, had 208000 shares of common stock, 20400 shares of convertible preferred stock, and $1470000 of 6% convertible bonds outstanding during 2021. The preferred stock is convertible into 40300 shares of common stock. During 2021, Marigold paid dividends of $0.90 per share on the common stock and $4 per share on the preferred stock. Each $1.000 bond is convertible into 30 shares of common stock. The net income for 2021 was $594000 and the income tax rate was 35%. Diluted earnings per share for 2021 is (rounded to the nearest penny) $2.00. $2.04. $2.23. $2.39

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

Crossover Of Audit And Evaluation Practices Comparative Policy Evaluation

Authors: Maria Barrados, Jeremy Lonsdale

1st Edition

1032173874, 978-1032173870

More Books

Students also viewed these Accounting questions

Question

Which are non projected Teaching aids in advance learning system?

Answered: 1 week ago