Ehrlich Corporation has 400,000 shares of common stock outstanding throughout 2021. In addition, the corporation has 5,000, 20-year, 9% bonds issued at par in 2019. Each $1,000 bond is convertible into 20 shares of common stock after 9/23/22. During the year 2021, the corporation earned $900,000 of net income. The tax rate was 25%.   Ehrlich Corporation has 400,000 shares of common stock outstanding throughout 2021. In addition, the corporation has warrants exercisable at $20 each to obtain 80,000 shares of common stock when

During 2020, Masefield, Inc. had the following convertible securities outstanding:• $200,000 of 6% convertible bonds. Each $1,000 bond is convertible into 30 shares ofcommon stock.• $100,000 of 10%, $50 par, cumulative preferred stock. Each share is convertible into 4shares of common stock.Masefield, Inc. has an income tax rate of 30%. Its reported net income for 2020 was $210,000, and it had26,000 shares of common stock outstanding all year.Instructions: Calculate basic and diluted earnings per share for Masefield. You may omit ranking andimpact of the dilutive securities.

On January 1, 2025, Crocker Company issued 10-year, $2,000,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 15 shares of Crocker common stock. Crocker's net income in 2025 was $400,000, and its tax rate was 20%. The company had 100,000 shares of common stock outstanding throughout 2025. None of the bonds were converted in 2025. a. Compute diluted earnings per share for 2025. (Round answer to 2 decimal places, e.g. 2.55.) Diluted earnings per share $ b. Compute diluted earnings per share for 2025, assuming the same facts as above, except that $1,000,000 of 6% convertible preferred stock was issued instead of the bonds. Each $100 preferred share is convertible into 5 shares of Crocker common stock. (Round answer to 2 decimal places, e.g. 2.55.) Diluted earnings per share $

Sunland Corporation earned net income of $340,000 in 2023 and had 100,000 common shares outstanding throughout the year. Also outstanding all year was $800,000 of 10% bonds that are convertible into 10,000 common shares. Sunland's tax rate is 30%. Calculate Sunland's 2023 diluted earnings per share. For simplicity, ignore the IFR$ requirement to record the debt and equity components of the bonds separately. (Round answer to 2 decimal places, e.g. 15.25.) Diluted earnings per share $

At December 31, 2024, Oriole Co. had 1150000 shares of common stock outstanding. In addition, Oriole had 449000 shares of preferred stock which were convertible into 755000 shares of common stock. During 2025, Oriole paid $1120000 cash dividends on the common stock and $802000 cash dividends on the preferred stock. Net income for 2025 was $6877050 and the company's income tax rate was 20%. Diluted earnings per share for 2025 was O $2.60. O $5.98. O $3.61. O $5.00.

During 2021, Omnicom Corp had 1,000,000 shares of common stock and 60,000 shares of 6% preferred stock outstanding. The preferred stock does not have cumulative or convertible features. Omnicom declared and paid cash dividends of $440,000 and $220,000 to common and preferred shareholders, respectively, during 2021.On January 1, 2020, Omnicom issued $2,140,000 of convertible 5% bonds at face value. Each $1,000 bond is convertible into five common shares.Omnicom's net income for the year ended December 31, 2021, was $6.00 million. The income tax rate is 20%.What will Omnicom report as diluted earnings per share for 2021, rounded to the nearest cent?   Multiple Choice   None of these answer choices are correct.   $6.02.   $5.94.   $5.72.

Dream Corporation reported net income of $44,000 for 2019. The company has 10,000 shares of common stock issued and outstanding for all of 2019 and no preferred stock. During 2018, Dream issued $400,000 of 8% convertible bonds at par value. Each $1,000 bond can be converted into 24 shares of common stock. No bonds have been converted as of December 31, 2019. Dream has a 30% tax rate. Required: 1. Calculate the earnings per share amounts that Dream should disclose on its 2019 income statement. If required, round your answer to two decimal places.

Waterway Industries had 200000 shares of common stock, 19300 shares of convertible preferred stock, and $592000 of 12% convertible bonds outstanding during 2021. The preferred stock is convertible into 39400 shares of common stock. During 2021, Waterway paid dividends of $0.55 per share on the common stock and $1.70 per share on the preferred stock. Each $1,000 bond is convertible into 45 shares of common stock. The net income for 2021 was $364000 and the income tax rate was 30%.Diluted earnings per share for 2021 is (rounded to the nearest penny)

Early in 2021, Robbinsville Press was organized with authorization to issue 100,000 shares of $100 par value preferred stock and 500,000 shares of $1 par value common stock. Ten thousand shares of the preferred stock were issued at par, and 170,000 shares of common stock were sold for $15 per share. The preferred stock pays an 8 percent cumulative dividend. During the first four years of operations (2021 through 2024), the corporation earned a total of $1,385,000 and paid dividends of 75 cents per share in each year on its outstanding common stock. Required: Prepare the stockholders' equity section of the balance sheet at December 31, 2024.

Q. Colson Corp. had $800,000 net income in 2018. On January 1, 2018 there were 200,000 shares of common stock outstanding. On April 1, 20,000 shares were issued and on September 1, Colson bought 30,000 shares of treasury stock. There are 30,000 options to buy common stock at $40 a share outstanding. The market price of the common stock averaged $50 during 2018. The tax rate is 40%.   During 2018, there were 40,000 shares of convertible preferred stock outstanding. The preferred is $100 par, pays $3.50 a year dividend, and is convertible into three shares of common stock.   Colson issued $2,000,000 of 8% convertible bonds at face value during 2017. Each $1,000 bond is convertible into 30 shares of common stock.   Instructions:   Compute diluted earnings per share for 2018. Complete the schedule and show all computations.   Security Net Income Adjustment Adjusted Net income Shares Adjustment Adjustment Shares EPS