Jackson Metals, Inc., issued a $1,000 convertible corporate bond. Each bond is convertible to 47 shares of the firm's common stock. a. What price must the common stock reach before investors would consider converting their bond to common stock? (Round your answer to 2 decimal places. Omit the "S" sign in your response.)

25) Harrell's Barrels issued $100 million of 6% convertible bonds at 101. Each $1,000 bond is convertible into 45 shares of Harrell's no par common stock. Bonds that are similar in all respects, except that they are nonconvertible, currently are selling at 98. Harrell applies International Financial Reporting Standards. Recording the issuance of the bonds would cause an increase in Harrell's: A) shareholders' equity of $1,000,000. B) shareholders' equity of $3,000,000. C) assets of $98,000,000. D) liabilities of $101,000,000.

A $1,000 corporate bond is convertible to 40 shares of the corporation's common stock. What is the minimum price that the stock must obtain before bondholders would consider converting the bond to stock?

A4

Whispering Company issued $9,000,000 par value 5% bonds at 97. One detachable stock purchase warrant was issued with each $100 par value bond. At the time of issuance, the warrants were selling for $2. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

The following data on the Bond Record Company are​ available: Earnings available for common stockholders ​$700,000 Number of shares of common stock outstanding 350,000 Earnings per share ​($700,000÷350,000​) ​$2 Market price per share ​$36 ​Price/earnings (P/E) ratio ​($36÷​$2​) 18 The firm is currently considering whether it should use ​$350,000 ​(not included in the ​$$700,000 earnings listed in the financial data​) of its earnings to help pay cash dividends of ​$1.00 per share or to repurchase stock at ​$36 per share.   a. Approximately how many shares of stock can the firm repurchase at the ​$36​-per-share ​price, using the funds that would have gone to pay the cash​ dividend?   b. Calculate the EPS after the repurchase.   c. In a perfect​ market, what is the stock price after the repurchase and what is the​ P/E ratio?   d. Compare the​ pre- and​ post-repurchase earnings per share.

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