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a. 25000 shares of $100 par, 0.15 cumulative preferred stock b. 3500 bond of, 0.08 interest, Each bond is converted into 40 shares of common stock. Face value $1000 c.42000 shares of $100 par, $2 cumulative preferred stock. par $100, Each share of preferred stock is convertible into 5 shares of common stock.

a. 25000 shares of $100 par, 0.15 cumulative preferred stock b. 3500 bond of, 0.08 interest, Each bond is converted into 40 shares of common stock. Face value $1000 c.42000 shares of $100 par, $2 cumulative preferred stock. par $100, Each share of preferred stock is convertible into 5 shares of common stock.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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am. 18.

of On January 1, 2011 APPLE. had 1300000 shares, On April 1, 2011 APPLE sold 50000 shares, on July 1,2011 apple makes a 2:1 stock split on Dec 1, 2011 apple distribute 0.09 stock dividend, Net income for 2011 was $2900000. The tax rate was 35%. In addition, Apple had the following debt and equity securities on its books on December 31, 2011: a. 25000 shares of $100 par, 0.15 cumulative preferred stock b. 3500 bond of, 0.08 Interest, Each bond is converted into 40 shares of common stock. Face value $1000 c.42000 shares of $100 par, $2 cumulative preferred stock. par $100, Each share of preferred stock is convertible into 5 shares of common stock. what is the weighted average number of common stock what is the basic eps? what is the diluted EPS?
Transcribed Image Text:of On January 1, 2011 APPLE. had 1300000 shares, On April 1, 2011 APPLE sold 50000 shares, on July 1,2011 apple makes a 2:1 stock split on Dec 1, 2011 apple distribute 0.09 stock dividend, Net income for 2011 was $2900000. The tax rate was 35%. In addition, Apple had the following debt and equity securities on its books on December 31, 2011: a. 25000 shares of $100 par, 0.15 cumulative preferred stock b. 3500 bond of, 0.08 Interest, Each bond is converted into 40 shares of common stock. Face value $1000 c.42000 shares of $100 par, $2 cumulative preferred stock. par $100, Each share of preferred stock is convertible into 5 shares of common stock. what is the weighted average number of common stock what is the basic eps? what is the diluted EPS?
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