Question
In: Accounting
Coronado Industries had 202000 shares of common stock, 19300 shares of convertible preferred stock, and $596000...
Coronado Industries had 202000 shares of common stock, 19300 shares of convertible preferred stock, and $596000 of 9% convertible bonds outstanding during 2021. The preferred stock is convertible into 39700 shares of common stock. During 2021, Coronado paid dividends of $0.55 per share on the common stock and $1.70 per share on the preferred stock. Each $1,000 bond is convertible into 45 shares of common stock. The net income for 2021 was $350000 and the income tax rate was 35%.
Diluted earnings per share for 2021 is (rounded to the nearest penny)
|
A |
$1.36. |
|
B |
$1.43. |
|
C |
$1.52. |
|
D |
$1.32. |
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Coronado Industries has issued 2,300 shares of common stock and 460 shares of preferred stock for...
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Give the entry for the issuance...
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A
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B
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On January 1, 2018, Coronado Corp. had 491,000 shares of common
stock outstanding. During 2018, it had the following transactions
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June 1 Issued a 3-for-1 stock split
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On January 1, 2018, Coronado Corp. had 491,000 shares of common stock outstanding. During 2018, it...
On January 1, 2018, Coronado Corp. had 491,000 shares of common
stock outstanding. During 2018, it had the following transactions
that affected the Common Stock account.
February 1 Issued 114,000 shares
March 1 Issued a 10% stock dividend
May 1 Acquired 103,000 shares of treasury stock
June 1 Issued a 3-for-1 stock split
October 1 Reissued 60,000 shares of treasury stock
a. Determine the weighted-average number of shares outstanding
as of December 31, 2018.
b. Assume that Coronado Corp. earned...
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