Hanson Co. had 200,000 shares of common stock, 20,000 shares of


Question Description:

30

Hanson Co. had 200,000 shares of common stock, 20,000 shares of convertible preferred stock,and $1,000,000 of 10% convertible bonds outstanding during 2011. The preferred stock isconvertible into 40,000 shares of common stock. During 2011, Hanson paid dividends of $1.20per share on the common stock and $4 per share on the preferred stock. Each $1,000 bond isconvertible into 45 shares of common stock. The net income for 2011 was $800,000 and theincome tax rate was 30%. 13. Basic earnings per share for 2011 is (rounded to the nearest penny) A) $2.94. B) $3.22. C) $3.35. D) $3.60. 14. Diluted earnings per share for 2011 is (rounded to the nearest penny) A) $2.77. B) $2.81. C) $3.05. D) $3.33. Sylviawang
posted a question ยท Jan 27, 2013 at 5:45pm

Answer

30