Information from the financial statements of Henderson-Niles Industries included the following at December 31, 2021:Common shares outstanding throughout the yearConvertible preferred shares (convertible into 40 million shares of common)Convertible 8% bonds (convertible into 16.0 million shares of common)100 million50 million$1,400 millionHenderson-NIles's net income for the year ended December 31, 2021, is $710 million. The income tax rate is 25%. Henderson-Nilespaid dividends of $4 per share on its preferred stock during 2021.Required:Compute basic and diluted earnings per share for the year ended December 31, 2021. (Enter your answers in millions (l.e.,10,000,000 should be entered as 10). Round "Earnings per share" answers to 2 decimal places.)Earnings pershareNumeratorDenominatorBasic%3DDiluted

Solution:- 1)Calculation of Basic Earning per share as follows under:- Basic Earning per share =(Net…

Compute basic and diluted earnings per share for the year ended December 31, 2021. (Enter your answell IA 10,000,000 should be entered as 10). Round "Earnings per share" answers to 2 decimal places.) mons (1.e. Earnings per share Numerator Denominator Basic Diluted

Compute basic and diluted earnings per share for the year ended December 31, 2021. (Enter your answell IA 10,000,000 should be entered as 10). Round "Earnings per share" answers to 2 decimal places.) mons (1.e. Earnings per share Numerator Denominator Basic Diluted

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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Question

100%

Information from the financial statements of Henderson-Niles Industries included the following at December 31, 2021:
Common shares outstanding throughout the year
Convertible preferred shares (convertible into 40 million shares of common)
Convertible 8% bonds (convertible into 16.0 million shares of common)
100 million
50 million
$1,400 million
Henderson-NIles's net income for the year ended December 31, 2021, is $710 million. The income tax rate is 25%. Henderson-Niles
paid dividends of $4 per share on its preferred stock during 2021.
Required:
Compute basic and diluted earnings per share for the year ended December 31, 2021. (Enter your answers in millions (l.e.,
10,000,000 should be entered as 10). Round "Earnings per share" answers to 2 decimal places.)
Earnings per
share
Numerator
Denominator
Basic
%3D
Diluted

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