Use the following information for questions 4 and 5. Hanson Co. had 200,000 shares of common stock, 20,000 shares of convertible preferred stock, and $1,000,000 of 5% convertible bonds outstanding during 2015. The preferred stock is convertible into 40,000 shares of common stock. During 2015, Hanson paid dividends of $.60 per share on the common stock and $2 per share on the preferred stock. Each $1,000 bond is convertible into 45 shares of common stock. The net income for 2015 was $400,000 and the income tax rate was 30%. Basic earnings per share for 2015 is (rounded to the nearest penny)

Basic earnings per share for 2015 is (rounded to the nearest penny)

Question

Use the following information for questions 4 and 5. Hanson Co. had 200,000 shares of common stock, 20,000 shares of convertible preferred stock, and $1,000,000 of 5% convertible bonds outstanding during 2015. The preferred stock is convertible into 40,000 shares of common stock. During 2015, Hanson paid dividends of $.60 per share on the common stock and $2 per share on the preferred stock. Each $1,000 bond is convertible into 45 shares of common stock. The net income for 2015 was $400,000 and the income tax rate was 30%. Basic earnings per share for 2015 is (rounded to the nearest penny)

Basic earnings per share for 2015 is (rounded to the nearest penny)

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Question

Use the following information for questions 4 and 5. Hanson Co. had 200,000 shares of common stock, 20,000 shares of convertible preferred stock, and $1,000,000

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