Oriole Company had 196000 shares of common stock, 19200 shares of convertible preferred stock, and $605000 of 11% convertible bonds outstanding during 2021. The preferred stock is convertible into 40000 shares of common stock. During 2021, Oriole paid dividends of $0.54 per share on the common stock and $1.80 per share on the preferred stock. Each $1,000 bond is convertible into 45 shares of common stock. The net income for 2021 was $359000 and the income tax rate was 35%. Diluted earnings per share for 2021 is (rounded to the nearest penny) $1.53. $1.36. $1.60. $1.40.

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Dulcinea Corporation had $1,000,000 of net income in 2022. On January 1, 2022, there were 225,000 shares of common stock outstanding.  On April 1, there were 12,000 additional shares issued.  On July 1, Dulcinea issued a 10% stock dividend and on September 1, Dulcinea bought 20,000 shares of treasury stock.         The market price of the common stock averaged $30 during 2022.  The tax rate is 30%.   During 2022, there were 10,000 shares of cumulative, convertible preferred stock outstanding.  The preferred is $100 par, pays $4 per share in dividends per year and each share of preferred stock is convertible into two shares of common stock.   Dulcinea issued $5,000,000 of 5% convertible bonds at face value ten years earlier.  All bonds remained outstanding throughout 2022.   Each $1,000 bond is convertible into 10 shares of common stock.   Required:   Calculate the weighted average number of shares outstanding for 2022 to be used to calculate basic earnings per share. Compute basic…

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 ▶