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In 2019, Sunland Enterprises issued, at par, 60 $1,000.8% bonds, each convertible into 100 shares of common stock. Sunla
Posted: Sat May 07, 2022 8:36 pm
by answerhappygod
- In 2019 Sunland Enterprises Issued At Par 60 1 000 8 Bonds Each Convertible Into 100 Shares Of Common Stock Sunla 1 (61.61 KiB) Viewed 32 times
In 2019, Sunland Enterprises issued, at par, 60 $1,000.8% bonds, each convertible into 100 shares of common stock. Sunland had revenues of $18,500 and expenses other than interest and taxes of $9,400 for 2020. (Assume that the tax rate is 20%.) Throughout 2020, 2.200 shares of common stock were outstanding: none of the bonds was converted or redeemed. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $ (b) Assume the same facts as those assumed for part (a). except that the 60 bonds were issued on September 1, 2020 (rather than in 2019), and none have been converted or redeemed. Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, eg. $2.55.) Earnings per share $ (c) Assume the same facts as assumed for part (a), except that 20 of the 60 bonds were actually converted on July 1, 2020. Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share