Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the following information to answer questions 4 and 5 Date Share Changes Shares Outstanding Jan 1 Beg Balance 90,000 Mar 1 Issued 42,000 shares

image text in transcribed
Use the following information to answer questions 4 and 5 Date Share Changes Shares Outstanding Jan 1 Beg Balance 90,000 Mar 1 Issued 42,000 shares 132,000 July 1 Purchased 12,000 shares 120,000 Nov 1 Issued 24,000 shares 144,000 Dec 31 Ending balance 144,000 Roberts Corporation has net income of $210,000 for the year and above is it's record of common shares outstanding. The company has one convertible debenture bond issues outstanding. It is a 5 percent issue sold at 100 (total $1,000,000) in a prior year and convertible into 20,000 common shares. Interest expense on the 5 percent convertibles is $50,000. The tax rate is 40 percent. What is Roberts Corporation's Basic EPS (rounded to the nearest cent)? 4. 5. What is Roberts Corporation's Diluted EPS (rounded to the nearest cent)

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

Step: 3

blur-text-image

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

The Basics Of IT Audit Purposes Processes And Practical Information

Authors: Stephen D. Gantz

1st Edition

0124171591, 978-0124171596

More Books

Students also viewed these Accounting questions

Question

Why We Listen?

Answered: 1 week ago