Convertible Preferred Stock, Convertible Bonds, and EPS Francis Company has 21,600 shares of common stock outstanding at the beginning of 2019. Francis issued 2,700 additional shares on May 1 and 1,800 additional shares on September 30. It also has two convertible securities outstanding at the end of 2019. These are:   Convertible preferred stock: 2,250 shares of 8.0%, $50 par, preferred stock were issued on January 2, 2016, for $60 per share. Each share of preferred stock is convertible into 3 shares of common stock. Current dividends have been declared and paid. To date, no preferred stock has been converted. Convertible bonds: Bonds with a face value of $225,000 and an interest rate of 6.0% were issued at par in 2018. Each $1,000 bond is convertible into 25 shares of common stock. To date, no bonds have been converted. Francis earned net income of $75,000 during 2019. The income tax rate is 30%. Required:

Veritox at January 1, 2020, had 450,000 common shares outstanding (no preferred shares issued). During 2020, the company has issued 60,000 shares on May 1, purchased 36,000 treasury shares on September 1, and issued 42,000 more shares on November 1. Find the weighted average of common shares outstanding for 2020.

The information below pertains to Windsor Company for 2026. Net income for the year 7% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 30 shares of common stock 6% convertible, cumulative preferred stock, $100 par value; each share is convertible into 3 shares of common stock Common stock, $10 par value Tax rate for 2026 Average market price of common stock 4 a. Compute basic earnings per share for 2026. (Round answer to 2 decimal places, e.g. 2.55.) Basic earnings per share $ b. Compute diluted earnings per share for 2026. (Round answer to 2 decimal places, e.g. 2.55.) Diluted earnings per share There were no changes during 2026 in the number of common shares, preferred shares, or convertible bonds outstanding. There is no treasury stock. The company also has common stock options (granted in a prior year) to purchase 71,800 shares of common stock at $20 per share. eTextbook and Media 1.65 $ $1,210,00 1,970,00 4,200,00 5,820,00 20% $25 per shar ▶

Convertible Preferred Stock, Convertible Bonds, and EPS Francis Company has 12,000 shares of common stock outstanding at the beginning of 2019. Francis issued 1,500 additional shares on May 1 and 1,000 additional shares on September 30. It also has two convertible securities outstanding at the end of 2019. These are:   Convertible preferred stock: 1,250 shares of 9.0%, $50 par, preferred stock were issued on January 2, 2016, for $60 per share. Each share of preferred stock is convertible into 3 shares of common stock. Current dividends have been declared and paid. To date, no preferred stock has been converted. Convertible bonds: Bonds with a face value of $125,000 and an interest rate of 6.0% were issued at par in 2018. Each $1,000 bond is convertible into 25 shares of common stock. To date, no bonds have been converted. Francis earned net income of $55,000 during 2019. The income tax rate is 30%. Required: 1. Compute the number of shares of common stock that Francis should use…

Little League Apparel has two classes of stock authorized: 6%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, Its first year of operations: January 2 Issue 110,000 shares of common stock for $54 per share. February 14 Issue 44,000 shares of preferred stock for $12 per share. May 8 May 31 Purchase 11,00e shares of its own common stock for $44 per share. Resell 5,500 shares of treasury stock for $49 per share. December 1 Declare a cash dividend on its common stock of $8.45 per share and a $26,480 (6% of par value) cash dividend on its preferred stock payable to all stockholders of record on December 15. The dividend is payable on December 30. (Hint: Dividends are not paid on treasury stock.) December 38 Pay the cash dividends declared on December 1. Required: Determine the financial statement effects of each of these transactions 2024. Complete this question by entering your answers in the tabs below. January 02 February 14…