At December 31 . 2013 . the Agricole Company had 600,000 shares of common stock outstanding. On September 1 . 2014, an additional 400,000 shares of common stock were issued. In addition, Agricole had $20,000,000 of 8 percent convertible bonds outstanding at December 31 . 2013 . which are convertible into 400,000 shares of common stock. No bonds were converted into common stock in 2014 . The net
income for the year ended December 31 . 2014, was $7,000,000 . Assuming the income tax rate was 40 percent, what should be the diluted earnings per share for the year ended December 31 . 2014?
a. $5.00
b. $5.53
c. $7.02
d. $10.85
C
You might also like to view...
Each partner has a separate Capital, Withdrawals, and Income account
Indicate whether the statement is true or false
Which of the following is least likely to affect the retained earnings balance?
a. Conversion of preferred stock into common stock b. Stock splits c. Treasury stock transactions d. Stock dividends
A statistics teacher wants to see if there is any difference in the abilities of students enrolled in statistics today and those enrolled five years ago. A sample of final examination scores from students enrolled today and from students enrolled five years ago was taken. You are given the following information.
Today
Five Years Ago
82
88
?2112.5
54
n45
36
?
The p-value for the difference between the two population means is
A. .0013. B. .0027. C. .4987. D. .9987.
The following information is for a product of Lanier Company:Last year, the variable cost per unit was $25. Total fixed costs were $800,000. At a volume of 170,000 units, the company achieved a profit of $50,000. Required:What was the unit sales price for the product last year?
What will be an ideal response?