Excavation Co., a publicly-traded company, has a December 31 year end. For the 2020 fiscal year,...

Excavation Co., a publicly-traded company, has a December 31 year end. For the 2020 fiscal year, there were 100,000 common shares outstanding all year. Net income for the year ended December 31, 2020 was $900,000. The company’s income tax rate is 25%. During 2019, Spade issued a $5,000,000, 5% convertible bond at par. Each $1,000 bond is convertible into 20 common shares. No bonds have been converted as of December 31, 2020. Also during 2019, Spade issued 100,000, $2 cumulative, convertible preferred shares. Two preferred shares are convertible into one common share. The preferred share dividend was declared and paid in June, 2020. Required : Calculate basic and diluted earnings per share for 2020.

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Tesla Corporation is a publicly-traded company that has a December 31st year-end. For the 2015 fiscal...

Tesla Corporation is a publicly-traded company that has a December 31st year-end. For the 2015 fiscal year, there were 500,000 common shares outstanding all year. Net income for the year ended December 31, 2015, was $800,000. The company’s income tax rate is 30%. During 2014, the company issued a $6,000,000, 10% convertible bond at par. Each 2,000 bond is convertible into 10 common shares. No bonds have been converted as of December 31st, 2015. Also during 2014, Spade issued 200,000,...

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at December 31, the company's fiscal year-end. The 2020 balance sheet disclosed the following: Current assets:...

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