Convertible Preferred Stock, Convertible Bonds, and EPS
Francis Company has 16,800 shares of common stock outstanding at
the beginning of 2019. Francis issued 2,100 additional shares on
May 1 and 1,400 additional shares on September 30. It also has two
convertible securities outstanding at the end of 2019. These
are:
Convertible preferred stock: 1,750 shares of 8.0%, $50 par,
preferred stock were issued on January 2, 2016, for $55 per share.
Each share of preferred stock is convertible into 2...